Latest Property Casualty Headlines

Oct 20 2008 // Darleen Madden has been elected president of the Independent Insurance Agents of Dallas (IIAD) for a term beginning Sept.1, 2008, through August 2009. Madden is co-owner of Glenn-Madden & Associates located in Dallas,...

Premium Growth: Top 25 P/C Premium Gainers Through Q2 2007

Oct 20 2008 // Vita Sackville (1892-1962) was a British novelist and poet. In 1928, she wrote, “Growth is exciting; growth is dynamic and alarming.” Eighty years later, her description of growth is more accurate than ever....

Texas Orders Nearly $220K in Fines, Restitution in August

Oct 6 2008 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during August resulted in four license revocations, three license denials and fines and restitution...

U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008

Oct 6 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...

AIG to Keep Its Commercial Property/Casualty Insurance, Sell Some Other Units

Oct 3 2008 // American International Group Inc. said it plans to keep its commercial property/ casualty and foreign general insurance businesses, while selling off some life insurance business and seeking alternatives for its securities...

P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008

Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...

U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008

Sep 24 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...

Best to Hold Conference Today on Ike, AIG Rating, Other P/C Events

Sep 24 2008 // A.M. Best announced that a number of leaders of its insurance ratings team will address a variety of important property/casualty market issues in an online briefing set for today, Wednesday, September 24 at 9 a.m. Eastern...

Texas Issues Data Call to Insurers in Hurricane Ike’s Aftermath

Sep 23 2008 // The Texas Department of Insurance (TDI) is conducting a mandatory data call for certain information related to claims in the counties of Angelina, Austin, Brazoria, Brazos, Chambers, Cherokee, Fort Bend, Galveston, Gregg,...

CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations

Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...

Fitch: P/C Profits Decline Sharply in First-Half 2008

Sep 22 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008. Profitability declined due to poor investment performance and deteriorating accident-year underwriting results, which...

Wausau Signature Agency Names Nederloe Zone Marketing Director

Sep 19 2008 // Jean Nederloe was named Marketing Director for the North Zone operations of Wisconsin-based Wausau Signature Agency (WSA). Nederloe is based in WSA’s Milwaukee office and will work in conjunction with marketing...

Best Comments on Potential Impact of Hurricane Ike on P/C Industry

Sep 17 2008 // A.M. Best’s preliminary assessment of the potential financial impact from Hurricane Ike concludes that, even though its passage was a “sizeable catastrophic event, the overall financial impact to both the...

AIG Woes Offer Double Benefit for Insurance Rivals

Sep 17 2008 // Insurance rivals stand to reap the benefits from the woes of American International Group, snapping up assets AIG is forced to sell while gaining greater pricing power as AIG pulls in its claws. Zurich Financial Services...

July Enforcement Actions in Texas Result in $500K in Fines

Sep 10 2008 // Enforcement actions taken by Texas Commissioner of Insurance Mike Geeslin in July 2008 include nine license revocations, four license denials and fines and restitution totaling $539,814. Copies of Geeslin’s orders...

Simmon to Lead Michigan’s Agents

Sep 1 2008 // Says Independence, Flexibility Still Key in Serving Policyholders Dale Simmon of the Simmon Insurance Agency in Lansing was recently named president of the Michigan Association of Insurance Agents (MAIA). The Michigan...

People

Sep 1 2008 // Community Financial Insurance Center, Monroe, La., hired Jeanette F. Credo as senior vice president for its new Financial Institutions Division for the states of Louisiana, Alabama and Mississippi. Credo will establish and...

Surplus Lines Results Remain Strong, Despite Heightened Competition

Sep 1 2008 // Brokerage M&As Expected to Continue for the Near Term; Time’s Almost Up for Congress to Pass Reform Bill Surplus lines insurers continued to outperform the property/casualty industry in underwriting and...

Fitch: P/C Profits Decline Sharply in First-Half 2008

Aug 28 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008, according to a new Fitch report. Profitability declined due to poor investment performance and deteriorating...

Best Affirms Gen Re’s A++ Rating

Aug 27 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of General Re Group and its members. The ratings apply to General...