Latest Property Casualty Headlines

Lloyd’s to Establish Amlin Illinois Inc. in Chicago

Jul 24 2008 // Amlin, a leading Lloyd’s insurer, plans to open an office in Chicago. Amlin Illinois Inc, will work within the existing Lloyd’s infrastructure, utilizing the Lloyd’s licence in Illinois to write admitted...

Tokio Marine to Acquire Philadelphia Insurance for $4.7 Billion

Jul 23 2008 // Japan’s Tokio Marine Holdings, Inc. reported that it has agreed to acquire all outstanding shares of Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and...

U.S. P/C Insurers’ Catastrophe Losses for Q2 Double to $6 Billion; Average Claim $5K

Jul 21 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $6.025 billion for second quarter property losses resulting from a total of 16 catastrophes in 27 states, which is nearly double...

Reynolds Honored with Raymond Mauk Award at Texas P/C Symposium

Jul 18 2008 // Richard “Dick” Reynolds, former chairman and executive director of the Texas Workers’ Compensation Commission, was presented the Raymond Mauk Leadership Award at the Insurance Council of Texas’ 16th...

Shareholders Approve Merger of Meadowbrook Group, ProCentury Corp.

Jul 15 2008 // Meadowbrook Insurance Group, Inc., a specialty property and casualty insurance holding company based in Southfield, Mich., and ProCentury Corporation, a Columbus, Ohio-based specialty property and casualty insurance...

EPIC Opens Los Angeles Office

Jul 14 2008 // In an expansion of its Southern California operations, Edgewood Partners Insurance Center (EPIC), a retail property and casualty and employee benefits insurance brokerage firm, opened a new office in Los Angeles. Chris...

Conning Research: Insurers’ Financials Strong Despite Price Deterioration

Jul 14 2008 // The financial condition of the property/casualty industry is strong; and, it should be able to withstand the current price deterioration, according to a new Property-Casualty Industry Forecast by Conning Research and...

Modlin Joins EMB America

Jul 11 2008 // San Diego-based EMB, a specialist property and casualty actuarial and business consulting firm, announced that Claudine Modlin has joined the company as a senior consultant. Modlin brings more than 17 years of experience...

S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers

Jul 11 2008 // Standard & Poor’s Ratings Services said it does not expect the 2008 Midwest floods to impact ratings or outlooks for the majority of companies that it rates. However, property/casualty writers that are...

Strengths and Weaknesses, Part 2: What Agents Think of Regional, National P/C Insurers

Jul 10 2008 // Regional carriers come out on top in agency compensation and claims services, while nationals outscore regionals on loss control and technology. That’s according to an Insurance Journal weeklong survey in June on...

Actuaries Urged to Play Broader Role in Mergers, Acquisitions

Jul 9 2008 // Actuaries play a pivotal role in property/casualty insurance mergers and acquisitions, but they can make even larger contributions by taking a broader business approach, according panelists as the recent Casualty Actuarial...

Jul 7 2008 // People McQueary Henry Bowles Troy LLP (MHBT) added Jim Anderson as senior vice president in the Dallas-based firm’s property/casualty group. Anderson will oversee the production and account management of...

People

Jul 7 2008 // Richmond, Va.-based insurance broker Hilb Rogal & Hobbs Co. promoted F. Michael Crowley to president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In the...

Japan: Risk and Rewards

Jul 7 2008 // A Glimpse into Japan’s Property and Casualty Market The Japanese property and casualty insurance market is ripe for opportunities, but there also are significant risks in the country, according to Keiji Fukasawa of...

Exclusive Survey, Part 2: Strengths and Weaknesses – What Agents Think of Regional and National P/C Insurers

Jul 7 2008 // Regional P/C Insurers Beat Out Nationals on Compensation, Claims; Nationals Outperform on Technology Regional carriers come out on top in agency compensation and claims services, while nationals outscore regionals on loss...

Bowring Marsh Formed to Handle Specialist International P/C Placements

Jul 1 2008 // Marsh has resurrected a name from the past with the announcement of the formation of Bowring Marsh as its specialist international placement broker for property (including terrorism) and casualty risks. Mark Gregory,...

Conning Research: P/C Loss Reserves Position Deteriorated in 2007

Jul 1 2008 // While the property/casualty industry still appears to have strong reserves, overall its position began to deteriorate in 2007, according to a new study by Conning Research and Consulting Inc. “The property-casualty...

S&P: Rising Claims, Competition Squeeze Canadian P/C Insurers

Jun 26 2008 // “Lack of premium growth nationwide and diminished results in the Ontario auto segment restrained results for Canadian property and casualty insurers in the past year,” according to a newly published report from...

P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter

Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...

Strengths and Weaknesses, Part 1: What Agents Think of Regional, National P/C Insurers

Jun 25 2008 // Regional carriers rate better in underwriting experience, relationships and stability as well as in customer service and agency relations than their national competitors in the view of independent agents. Regional insurers...