Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AIG’s P/C Arm Eager to Split, New Name in Question
Apr 30 2009 // American International Group’s property/casualty division is moving swiftly to break ties with its parent company, setting itself up to be a stand-alone company, said AIG Chief Executive Edward Liddy. But the name...
ACE Q1 Net Income up 50% to $567 Million; Operating Income $669 Million
Apr 29 2009 // ACE Limited reported from its Zurich headquarters that net income for the quarter ended March 31, 2009 was $567 million, or $1.69 per share, compared to $377 million, or $1.10 per share for the same quarter last...
The Hartford Reported Shopping Its P/C Insurance Business
Apr 23 2009 // Hartford Financial Services Group Inc. is trying to sell its property/ casualty insurance business, sources familiar with the matter said Thursday, as the U.S. insurer reels from massive losses. Hartford has retained...
Q&A: AIG’s New AIU Tries to Rebrand In Challenging Market
Apr 21 2009 // Last month, shortly after American International Group, Inc. CEO Edward Liddy announced that AIG would be spinning off its global insurance operations into a new entity to be known as AIU Holdings, Inc., Insurance...
A.M. Best Calls AIU Vehicle ‘Positive First Step’ in AIG Insurance Rebranding
Apr 21 2009 // Rating organization A.M. Best Co. reported that its ratings and outlook of the property/ casualty subsidiaries of American International Group, Inc. (AIG) remain unchanged following the company’s announcement of the...
The Case for Confronting Fear
Apr 20 2009 // Study Shows Policyholders Eager to Address Economic Crisis With P/C Agents With the parallels being drawn between the nation’s new Administration and President Franklin D. Roosevelt’s Administration during the...
P/C Insurers Profitable in 2008 Despite Big Hits From Catastrophes, Financial Crisis
Apr 20 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
J.M. Wilson in Michigan Promotes Kiser to Personal Lines Manager
Apr 16 2009 // Portage, Michigan-based managing general insurance agency J.M. Wilson has promoted Stacey Kiser to manager of Personal Lines and assistant manager of Property/Casualty. She will oversee the day-to-day activities of the...
S&P: Global Risks Mean Some Changes in Store for P/C Insurers
Apr 10 2009 // In the midst of the financial turbulence, it’s easy to lose sight of longer-term trends. The economic downturn doesn’t necessarily mean the end of certain industries, but it does imply that there are some...
P/C Insurers Profitable in 2008; Take Hit From Catastrophes, Financial Crisis
Apr 9 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
Economic Downturn Presents Mixed Results for Workers’ Comp Market
Apr 6 2009 // The economic and financial downturn will have a mixed impact on the workers’ compensation insurance market, say industry analysts. Harry Shuford, chief economist for the National Council on Compensation Insurance...
Regulators: AIG Not Using Bailout Funds to Under-Price Insurance
Apr 6 2009 // Despite some complaints by competitors, American International Group (AIG) does not appear to be using federal bailout funds to lower its insurance prices to keep and attract business, state and federal officials told a...
Measurement of Success
Apr 6 2009 // Planning, People and Dedication Equal Success for Top 100 Agency Bollinger Insurance Top 100 Agency Profile Ranking No.: 14 Agency Name: Bollinger Insurance Inc. Headquarters: Short Hills, N.J. Year Founded:...
Insurers Find Geithner Regulatory Plan Unclear on Federal Role
Mar 27 2009 // The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation. While Secretary Geithner said that any...
The Case for Confronting Fear
Mar 23 2009 // Study Shows Policyholders Eager to Address Economic Crisis With P/C Agents With the parallels being drawn between the nation’s new Administration and President Franklin D. Roosevelt’s Administration during the...
It Figures
Mar 23 2009 // $568 Million Amount spent by New York City to settle damage claims in fiscal year 2008 – an amount that was about $10 million higher than the previous year. Property damage from two major storms helped drive the...
Regulators: AIG Not Using Bailout Funds to Underprice Insurance
Mar 18 2009 // Despite some complaints by competitors, American International Group (AIG) does not appear to be using federal bailout funds to lower its insurance prices to keep and attract business, state and federal officials told a...
Ohio Windstorm Losses in Feb. Reach Nearly $89M; Ike Losses Rise
Mar 16 2009 // Ohio’s Feb. 11-12 windstorm caused at least $88.9 million in damages, based on preliminary insured loss estimates from the Ohio Insurance Institute (OII), an insurance industry trade group. Widespread losses were...
Survey: Commercial Lines Pricing Drops Just 3% in Q4
Mar 16 2009 // The commercial lines insurance market showed more signs of price stabilization in the last quarter of 2008. Commercial insurance prices saw just a slight decline of 3 percent during the fourth quarter of 2008 compared to...
Divorce AIG Style
Mar 15 2009 // Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No...
