Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Texas Joins Rest of the U.S. in Profitability Upswing of Last Few Years
Feb 10 2008 // I.I.I.’s Hartwig says the state is still one of the riskiest in which to operate The last few years have been good ones for the property casualty insurance industry in terms of profitability. But it’s been a...
People
Feb 10 2008 // Louisiana Workers’ Compensation Corporation hired Michael Page as director of safety and loss prevention. Page previously was director of loss prevention services for Workforce Safety and Insurance in North Dakota...
From Insurance to Candy
Feb 10 2008 // For former insurance pro, life really is a box of chocolates Although it’s been many years since See’s Candies President Brad Kinstler was at the helm of an insurance company, and even longer since he was...
SCOR Receives Approval for Beijing P/C Branch
Feb 6 2008 // France’s SCOR Group has received final approval to start operating a Property and Casualty branch in Beijing from the China Insurance Regulatory Commission (CIRC). The endorsement of SCOR’s request to set up a...
ACE FY Net Up12% to $2.578 Billion Despite Q4 Losses; Conference Call Today
Feb 6 2008 // ACE Limited’s earnings report showed a 14 percent drop in fourth quarter net earnings to $572 million, down from $665 million in the same period of 2006. The Company posted Q4 investment losses of $134 million....
I.I.I.’s Hartwig: Texas P/C Market Profitable Along with Rest of U.S.
Feb 5 2008 // The last few years have been good ones for the property casualty insurance industry in terms of profitability. But it’s been a long time coming, according to Robert Hartwig, president of the Insurance Information...
China’s CNinsure Buys Majority Interests in 2 P/C Insurance Agencies
Feb 1 2008 // CNinsure Inc., a leading independent insurance agency and brokerage company operating in China, is acquiring majority interests in Changsha Lianyi Insurance Agency Co., Ltd. (Lianyi) and Jiangmen Fanhua Zhicheng Insurance...
S&P: P/C ‘Reserve Adequacy’ Criteria
Jan 31 2008 // Standard & Poor’s Ratings Services has published an article titled, “Property/Casualty Insurance Criteria For Assessing Loss Reserve Adequacy For U.S.-Based Insurers/Reinsurers” on RatingsDirect, its...
TDI December Enforcements Result in Nearly $1.6M in Fines, Restitution
Jan 31 2008 // Enforcement actions taken by the Texas Department of Insurance December 2007 resulted in eight license revocations, four license denials, and fines and restitution totaling $1,591,264, the department reported. An order...
Munich Re Expects $5.77 Billion 2007 Profit
Jan 30 2008 // The Munich Re Group announced that it expects a record profit for 2007 of €3.9 billion ($5.77 billion) on the basis of preliminary figures. The amount exceeds the profit guidance of €3.5-3.8 billion ($5.18 to $5.62...
For 2007, Hanover Reports P/C Earnings Up 20%; Premiums Up 5%
Jan 29 2008 // The Hanover Insurance Group Inc. in Worcester, Mass. reported a rise in earnings for the fourth quarter and last year overall while its chief executive officer expressed confidence the company has “momentum leading...
People
Jan 27 2008 // Zurich named Kevin Dunham senior vice president and global relationship leader for the western region of its Global Corporate in North America Business unit. Dunham is based in Glendale, Calif., and will manage accounts...
Executives See Only Moderate Growth for P/C Industry in 2008
Jan 27 2008 // Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower — although that could quickly worsen if a natural...
PartnerRe January P/C Renewals around $2 Billion
Jan 25 2008 // Bermuda-based PartnerRe Ltd. announced that during the January 1 renewal season it expects to write and bind approximately $2.0 billion of Non-Life premium. The figure ” does not include PartnerRe’s Non-Life...
Berkshire Hathaway Buys 3% Stake in Swiss Re; Reinsurance Pact Signed
Jan 23 2008 // Swiss Re announced today that Berkshire Hathaway has acquired a three percent stake in the company. Swiss Re has also entered into a reinsurance contract with Berkshire Hathaway which will give it a share of Swiss...
National Insurance Partners Opens San Antonio Office
Jan 23 2008 // National Insurance Partners (NIP) reported it has opened an office in San Antonio as part of the firm’s effort to expand product offerings and its presence in the Texas marketplace. Melinda Garren was brought on as...
Tort Trends Likely to Remain Stable in 2008, Finds I.I.I. Survey
Jan 16 2008 // Tort trends will likely remain stable in the year ahead, according to a survey conducted by the Insurance Information Institute (I.I.I.) at its 12th annual Property/Casualty Insurance Joint Industry Forum. Sixty-six...
Agent to Head P/C Office at La. Insurance Department
Jan 15 2008 // Louisiana Commissioner of Insurance Jim Donelon appointed Edward O’Brien to serve as the deputy commissioner of the Louisiana Department of Insurance Office of Property & Casualty, the department announced....
Executives See Moderate P/C Insurance Growth in 2008
Jan 14 2008 // Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower, although that could quickly worsen if a natural catastrophe...
People
Jan 13 2008 // Dallas-based regional insurer, The Republic Group, appointed Jim Drawert to the new position of vice president – Industry Relations. Additionally, Cathy Link has joined Republic as chief underwriting officer. Drawert...
