Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Bamboo Insurance Acquires First American P/C Agency to Expand Nationally
Jun 18 2021 // Bamboo Insurance has acquired certain of the assets of First American Property and Casualty Insurance Agency of Santa Ana, Calif. from parent company title insurer, First American Financial Corp., which is exiting the...
P/C Insurers’ Underwriting Income Fell 53% in First Quarter: AM Best
Jun 4 2021 // The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results analyzed by AM...
AM Best Withdraws Credit Ratings of First American Property & Casualty and First American Specialty
May 28 2021 // AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of First American Property & Casualty Insurance Co. and First American Specialty...
FBL Financial Shareholders OK Stock Purchase by Farm Bureau P&C Insurance
May 21 2021 // The shareholders of West Des Moines, Iowa-based FBL Financial Group Inc. have approved a previously announced purchase of its stock by Farm Bureau Property & Casualty Insurance Co. (FBPCIC), the company said. Under the...
Shaping the Narrative of the P/C Industry
May 17 2021 // It is important to step back and take a 30,000-foot view of the macro context of today’s public policy challenges — specifically, the new tidal wave of socio-environmental awareness that the U.S. is...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
May 3 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
P/C Insurance Firms Lead as Global Insurtech Investment Soars to $2.55B in Q1
Apr 28 2021 // Global investment in the insurtech sector reached a new quarterly high of US$2.55 billion during the first quarter of 2021. The number of mega-rounds reached eight, more than any other three-month period, according to the...
Reinsurers Remain Resilient Despite P/C Underwriting Losses in 2020
Apr 22 2021 // Despite the combined effects of around $25 billion of pandemic and natural catastrophe-related losses as well compromised investment returns, a group of reinsurers studied by Aon reported positive earnings for 2020 and an...
P/C Insurers Returned $13B in Premiums Due to COVID-19 Reduced Exposures
Apr 21 2021 // U.S. property/casualty insurers returned nearly $13 billion in premiums to policyholders in 2020 to reflect reduced exposures from the COVID-19 pandemic. Auto insurers returned premium in the greatest numbers, though...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
Apr 19 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
P/C Insurers Show 2020 Underwriting Profits Despite COVID-19: Fitch
Apr 19 2021 // Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined...
Auto Insurers Lead 2020 U.S. Property/Casualty Impairments: AM Best
Apr 16 2021 // Seven insurance company impairments were identified in the U.S. property/casualty industry in 2020, with five of the seven involving auto insurers, according to an AM Best special report. Last year’s number was an...
People Moves: RHSB Promotes Croy to VP, Property/Casualty
Apr 14 2021 // Roach Howard Smith & Barton Dallas-based independent insurance broker Roach Howard Smith & Barton (RHSB) has promoted Shellie Croy to vice president of Property and Casualty Operations. She has been with RHSB since...
U.S. P/C Insurers Report 2020 Underwriting Profits Despite Costs of COVID-19: Fitch
Apr 12 2021 // Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined...
Watford Holdings Announces Purchase of French P/C Insurer Axeria IARD
Apr 12 2021 // Bermuda-headquartered Watford Holdings Ltd. has completed the purchase of Axeria IARD, a French property and casualty insurance company. Watford has acquired 100% of the capital stock of Axeria IARD from the APRIL Group....
P/C Insurers Liberty Mutual, Starr Join Investors in Bitcoin Firm NYDIG
Apr 9 2021 // New York Digital Investment Group, an asset manager focused on bitcoin investments, has raised $100 million it will use to expand the use of bitcoin in insurance. The round comes just a month after announcing $200 million...
2020’s P/C Insurance Industry Results and What They Mean for 2021
Mar 31 2021 // The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better...
Spanish Bank Bankinter to Spin Off Its P/C Insurance Unit Linea Directa
Mar 23 2021 // MADRID – Spanish bank Bankinter said on Tuesday it cleared all regulatory hurdles to spin off its insurance unit Linea Directa and list its shares on the market in late April. Bankinter, which has secured the European...
The Inflation Specter Looms for Property/Casualty Insurers
Mar 23 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
P/C Insurers Improved Profitability in Year of Coronavirus: AM Best
Mar 22 2021 // Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the...
