Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Profits to Plunge 80% in 2009: Fitch
Dec 19 2008 // The U.S. property/casualty insurance industry is enduring tremendous challenges in 2008 as underwriting and investment losses have promoted a sharp decline in earnings and a material reduction in industry capital. Next...
Zurich Names Terryn P/C COO
Dec 19 2008 // The Zurich Financial Services Group announced the appointment of Kristof Terryn (40, Belgian citizen) to the position of Chief Operating Officer for General Insurance (GI), effective January 1, 2009. “In this newly...
Industry Profits Dove Massively through First Nine Months of 2008
Dec 16 2008 // After-tax profits for the U.S. property and casualty industry through the first nine months of the year were $4.1 billion — a 91.8 percent decline from the $50 billion in profits earned the same period a year ago,...
Gallagher & Co. Acquires Treiber Agencies
Dec 10 2008 // Itasca, Ill.-based Arthur J. Gallagher & Co. recently announced the acquisitions of The Treiber Group LLC and Treiber Agency Group LLC, both located in Garden City, N.Y. Terms of the transactions were not...
Ace Europe Names Duncan to Head P/C Unit in Ireland
Dec 5 2008 // ACE Europe has appointed Jim Duncan as Property & Casualty Country Manager for Ireland, based in its Dublin office. He will assume full management responsibility for ACE’s P&C product lines distributed...
Mississippi Insurance Chief Chaney Reports Progress in Rebuilding Markets
Dec 3 2008 // One year after he was elected, Mississippi Insurance Commissioner Mike Chaney says his state has made progress in rebuilding its insurance markets that were ruined by the 2005 hurricanes. Mississippi has done this by...
BC Law Gets $3.1M from Liberty Mutual for P/C Insurance Professorship
Dec 1 2008 // Boston College Law School has received a $3.1 million gift from Liberty Mutual Group that will be used to establish a professorship in property and casualty insurance law. The gift, to be paid over four years, is the...
The Importance of Being Earnest
Nov 30 2008 // Insurance Agency Profile Agency Name: SullivanCurtisMonroe Headquarters: Irvine, Calif. Year Founded: 1931 Additional Locations: Corona and Pasadena, Calif. Total Property/Casualty Premium Volume for 2007: $186.6...
Insurance Information Network Of California Offers Fire Victims Recovery, Claims Info
Nov 18 2008 // With displaced residents of the Southern California fires now returning to their neighborhoods, several home and business owners are now finding themselves facing dozens of questions before they rebuild. To help navigate...
Hartford, 3 Other Insurers Seek to Buy Thrifts to Obtain Bailout Funds
Nov 17 2008 // Four insurance companies on Friday asked the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program. Hartford Financial Services Group Inc., Genworth...
Iroquois Expands Managing Partner’s Region to Kansas and Missouri
Nov 17 2008 // The Iroquois Group recently announced that Managing Partner Philip Dawson’s management responsibilities have been expanded to incorporate the states of Kansas and Missouri. He currently handles Iroquois’ Great...
Mississippi Rebuilds Its Insurance Markets
Nov 16 2008 // Wind Pool Modernization, Better Building Code Enforcement and Carrier Recruitment Efforts Begin to Pay Off Back in January, when Mike Chaney was getting ready to be sworn in as Mississippi insurance commissioner after his...
Washington Not Likely to Focus Much on P/C Agents in 2009
Nov 16 2008 // Insurance Commissioner Mike Kreidler, the 64-year-old Democrat, easily won his third term as Washington state insurance commissioner, defeating Republican John Adams, who owns a Seattle-based insurance brokerage firm 57...
Racicot Steps Down; Pusey Takes Helm as Insurer Group’s CEO
Nov 14 2008 // Gov. Marc Racicot will leave his position as the president and CEO of the American Insurance Association (AIA), effective Feb. 1, 2009. Racicot served more than three years as the leader of the the AIA, a property/casualty...
ING Canada CEO Eyes Acquisitions
Nov 13 2008 // ING Canada is in a good position to make an acquisition and has the financial muscle to acquire pretty well any property and casualty insurer in Canada, the chief executive of the home and auto insurer said...
Mass Mutual, New York Life Reject Government Aid
Nov 12 2008 // Two insurance companies have said they will not participate in the government’s rescue program to directly invest billions in financial companies. Some insurers likely would be eligible under the Treasury...
Texas Enforcement Actions for Sept. 2008 Include $160K in Fines
Nov 11 2008 // The Texas Department of Insurance enforcement actions taken by Commissioner Mike Geeslin that became final during September include ten license revocations, two license denials and fines and restitution totaling...
S&P Outlook Turns Negative on AIG Units, Ratings Downgrade Possible
Nov 6 2008 // Standard & Poor’s Ratings Services has revised the CreditWatch status of its ratings on a number of American International Group Inc.’s P/C subsidiaries and other units with ratings derived from guarantees...
Swiss Re Reports $259 Million Q3 Net Loss: $754 Million 9-Month Profit
Nov 4 2008 // Swiss Re reported a net loss of CHF 304 million ($259.3 million) for the third quarter of 2008, despite what it described as “good technical results for Property & Casualty.” For the first nine months of...
Oregon Insurance Division Administrator Kipper Steps Down
Nov 2 2008 // Oregon’s Department of Consumer and Business Services (DCBS) announced that Scott Kipper, administrator of the Insurance Division, left his position on Oct. 31, 2008, to pursue other interests. Yet before he left,...
