Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
What the Reauthorization of TRIA Means to the P/C Industry
Jan 13 2008 // On Dec. 26, President George W. Bush signed the Terrorism Risk Insurance Program Reauthorization Act of 2007 to reauthorize the federal backstop for seven years. First and foremost, reauthorization of TRIA means it is...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped in 3rd Quarter
Jan 13 2008 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
S&P Revises Swett & Crawford’s Rating Outlook to Negative
Jan 7 2008 // Standard & Poor’s Ratings Services has revised its outlook on HMSC Corp., the intermediate holding company of Swett & Crawford Group Inc., to negative from stable, while also affirming its ‘B’...
Guaranty Fund System Continues to Deliver
Jan 4 2008 // At the heart of every property and casualty insurance contract lies a promise to soften the blow of misfortune. But what happens when an insurance company becomes financially troubled, fails and is no longer able to uphold...
Kansas Recovers More Than $13M for Insurance Consumers in 2007
Jan 3 2008 // The Kansas Insurance Department’s (KID’s) Consumer Assistance Division had a record year in 2007, recovering more than $13 million for Kansas insurance consumers, according to Commissioner Sandy...
Texas Enforcement Actions Result in $4.5M in Fines, Restitution
Dec 28 2007 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during November include three license revocations, two license denials, and fines and restitution totaling $4,495,150, the Texas...
Atlantic American Sells P/C Business to Missouri’s Columbia Mutual
Dec 28 2007 // Atlanta-based Atlantic American Corp. has agreed to sell its property/ casualty unit to Columbia Mutual Insurance Co. of Columbia, Missouri, part of the Columbia Insurance Group. The regional property and casualty business...
Best: ‘Unauthorized’ Reinsurance Increasing P/C Market Share
Dec 27 2007 // A.M. Best Co. has published a special report which examines the increasing use of “unauthorized reinsurance” in the U.S. P/C insurance industry. The report also indicates, however, that an “expensive...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped
Dec 27 2007 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
People
Dec 23 2007 // Members of the National Association of Insurance Commissioners (NAIC) elected 2008 officers during their meeting in Houston. The newly elected officers, who will assume their duties following the completion of the NAIC...
People
Dec 23 2007 // Toledo, Ohio-based privately held commercial insurance brokerage, the Hylant Group, has named John W. Chaney as president of the Cleveland office and regional vice president. Chaney will be responsible for the overall...
Agents Wish for More Stability, But Predict Soft Market Will Continue in 2008
Dec 23 2007 // Industry hopes for disaster solutions, federal terrorism insurance extension, regulation reform and more In 2007, buyers of insurance reaped in the rewards of a soft insurance market. But for agents and brokers the soft...
