Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
People
May 7 2007 // Oklahoma City, Okla.-based BMSI Holdings, the holding company for BancInsure Inc., announced a number of promotions and appointments. Rodney N. Sargent was appointed president of BMSI Holdings and chief executive officer...
Commercial property/casualty premiums drop, underwriting relaxes, 1st quarter survey finds
May 7 2007 // Commercial property/casualty premiums for all sizes of accounts dropped sharply during the first quarter of 2007, with indications that insurance companies are starting to loosen underwriting standards and price...
News Currents
May 7 2007 // Another report details property/casualty insurers’ 2006 profitability, escape from storms Warns falling prices mean profits are at, or are steadily, approaching the cyclical peak Another report on the insurance...
Miss. AG Suit, MetLife P&C Settlement Latest Katrina Claims Developments
May 3 2007 // Plaintiff attorneys at the Scruggs Katrina Group, headed by Richard “Dickie” Scruggs, said they have brokered an out-of-court settlement for 34 Met Life Property & Casualty policyholders in Mississippi...
Texas’ March Enforcement Actions Lead to $188K in Fines, Restitutions
May 3 2007 // The Texas Department of Insurance announced enforcement actions that became final during March include nine license revocations, four license denials and fines and restitution totaling $188,826. Copies of Insurance...
Safeco Reports Earnings of $174.6 Million for First Quarter
May 1 2007 // Seattle-based Safeco reported operating earnings, after tax, which exclude net realized investment gains and loss on debt repurchases, of $174.6 million for the first quarter of 2007, compared with $199.3 million in the...
ACE Q1 Net up 43% to $701 Million; to Host Conference Call Today
Apr 25 2007 // Bermuda-based ACE Limited reported net income for the first quarter ended March 31, 2007 of $701 million or $2.10 per ordinary share after payment of preferred dividends, compared with net income of $489 million or $1.46...
HRH 1st Quarter: Acquisitions Help Drive Revenues as Rates Decline
Apr 25 2007 // Insurance broker and rsk management firm Hilb Rogal & Hobbs Co. reported 2007 first quarter total revenues were $198.2 million, compared with $183.8 million in the 2006 first quarter. Commissions and fees were $192.2...
P/C Insurers to Pay $1.2 Billion in 1st Quarter Home, Business Catastrophe Claims
Apr 25 2007 // Severe tornadoes in several southern states helped push catastrophe losses to more than $1.2 billion during the first quarter of 2007, according to the industry’s Property Claim Services (PCS), a unit of Insurance...
MHBT Expands Austin Office with P/C Group
Apr 24 2007 // Insurance and risk management firm McQueary Henry Bowles Troy L.L.P (MHBT) announced that it recently expanded its Austin, Texas, operations to include a property/casualty practice. The new group is led by newly appointed...
News Currents
Apr 23 2007 // Insurers fight impression their big profits are at claimants’ expense The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65...
Top 25 Property/Casualty Companies in Premium Growth
Apr 23 2007 // 12-months ending Dec. 31, 2006 versus Dec. 31, 2005 (000 Omitted) DPW $ Change DWP DWP DWP $ DWP % Rank Company Name 12/31/2006 12/31/2005 Change Change 1 Lexington Insurance...
Henson Joins MHBT as VP in Property/Casualty Group
Apr 19 2007 // McQueary Henry Bowles Troy L.L.P. (MHBT) announced that David Henson has joined its Dallas office as vice president in the property and casualty group. Having spent 20 years in the insurance business, Henson brings a deep...
Report Details P/C Insurers’ 2006 Proftability, Escape from Storms
Apr 18 2007 // Another report on the insurance industry confirms and details what has been widely acknowledged: a sharp decline in catastrophes in 2006 contributed to improved underwriting results for the year. The U.S. property/casualty...
Winn & Co. Hires Miner for P/C Team
Apr 17 2007 // Craig Miner has joined the Property Casualty Team of Winn & Co. based in Hollister, California. His primary focus will be in sales and client retention. Prior to joining Winn, Miner worked at a regional brokerage firm...
Ark. Commissioner Speaks to Senate Committee on State of P/C Industry
Apr 12 2007 // Arkansas Insurance Commissioner Julie Benafield Bowman testified before the United States Senate Committee on Commerce, Science and Transportation on April 11 on the overall state of the property/casualty insurance market...
Identity theft: A “catch phrase for the new millennium”
Apr 9 2007 // Contrary to popular opinion and despite well-publicized security breaches at governmental entities and major corporations, the primary methods of confiscating information necessary to commit identity theft are...
Insurers fight impression their big profits are at claimants’ expense
Apr 9 2007 // The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent. St. Paul Travelers’ earnings rose sixfold in the fourth quarter,...
Identity theft: A “catch phrase for the new millennium”
Apr 9 2007 // Contrary to popular opinion and despite well-publicized security breaches at governmental entities and major corporations, the primary methods of confiscating information necessary to commit identity theft are...
A.M. Best cites 15 P/C insurers as financially impaired in 2006
Apr 9 2007 // Seventeen U.S. insurance companies became financially impaired in 2006, despite a respite for property/casualty insurers from two consecutive turbulent hurricane seasons and more diversified asset portfolios among...
