Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Three Promotions Announced by Winterthur U.S. Holdings Inc.
Mar 10 2006 // Three employees were recently promoted at Winterthur U.S. Holdings Inc., parent company of regional property and casualty insurers General Casualty, Sun Prairie, Wis. and Unigard, Bellevue, Wash. Geoff Barker was named...
U.K.’s Catlin Group Appoints Banas President, CEO of New U.S. Company
Mar 10 2006 // The U.K.’s Catlin Group reported from its Bermuda operations center that Richard Banas has been appointed as president and CEO of Catlin Inc., the Group’s new U.S. subsidiary. “Rich Banas will be...
Liberty Seguros Portugal in Alliance with Portuguese Insurer Acoreana
Mar 7 2006 // The Liberty Mutual Group announced form its Boston headquarters that its Portuguese subsidiary, Liberty Seguros Portugal, has signed a memorandum of understanding with insurer Acoreana to form a strategic alliance in the...
Wausau Signature Agency Unveils New Employee Benefit Division
Mar 7 2006 // Wisconsin-based Wausau Signature Agency has unveiled its new Employee Benefits Division with comprehensive sales, marketing and service capabilities to fully complement its traditionally-strong property and casualty...
Best Affirms FSR for Chubb
Mar 2 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of A++ (Superior) of the property/casualty subsidiaries of The Chubb Corporation (Chubb) and has affirmed the issuer credit ratings (ICR) of “aa-”...
TDI Reports More Than $171K in Fines and Restitution in January
Mar 1 2006 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during January. The actions include three license revocations, two license denials and fines and...
CSC Surveys Report Cost Savings Opportunity with Electronic Payments
Mar 1 2006 // Computer Sciences Corporation made public the results of two U.S. surveys of property and casualty (P/C) insurance customers that reportedly show a large, untapped opportunity for cost control through electronic...
Swiss Re Names Strebel Head to Lead Latin American Unit
Mar 1 2006 // Swiss Re announced the appointment of Beat Strebel to head its Latin American unit. Strebel, who is based in Armonk, New York, is responsible for all of Swiss Re’s Property & Casualty and Life & Health...
NAMIC Focuses Federal Affairs Agenda on Regulatory and Asbestos Reform
Mar 1 2006 // The National Association of Mutual Insurance Companies (NAMIC) – which has more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States...
Hurricanes Drive 39% Decline in Net Income for Giant State Farm
Feb 26 2006 // Hurricane losses and loss adjustment expenses totaling $6.3 billion (after reinsurance) contributed to a reduction in State Farm’s 2005 net income. The company is reporting an after-tax net income from all sources of...
Hallmark, Texas General Agency
Feb 19 2006 // Hallmark, Texas General Agency Hallmark Financial Services Inc. completed its previously disclosed acquisition of Texas General Agency Inc. and certain affiliates. TGA is a managing general agency involved in the marketing...
Richard Robin
Feb 19 2006 // People Encino, Calif.-based NAS Insurance Services has appointed Richard Robin president. He will be responsible for overall operations, including underwriting, marketing and administration. Ed Robin will continue to serve...
Fitch Affirms Ratings for CNA
Feb 17 2006 // Fitch Ratings has affirmed the ‘BBB-‘ long-term issuer rating and ‘BBB-‘ senior debt ratings of CNA Financial Corporation (CNA) and the ‘A-‘ insurer financial strength (IFS) ratings of...
CNA Sees Q4 Net Loss of $217M
Feb 16 2006 // CNA Financial Corporation reported fourth quarter of 2005 results, which included the following items: * Net loss for the fourth quarter of 2005 of $217 million as compared with net income of $303 million for the same...
S&P Sees Growth in Spain
Feb 15 2006 // In a recent report- “Insurance Industry Risk Analysis: Spain (Kingdom of)” – Standard & Poor’s predicted further growth in the Spanish economy and indicated that the “current relatively...
Pinkes to Lead The Hartford’s P/C Run-Off Operations
Feb 14 2006 // The Hartford Financial Services Group Inc. reported that Andrew Pinkes has been named president of Heritage Holdings Inc., a unit which oversees the company’s property and casualty run-off operations. Pinkes, who is...
Aon’s Agency Specialty Product Network Forms LifeSource Alliance
Feb 14 2006 // Agency Specialty Product Network has joined with LifeSource – a BISYS Company to provide independent property and casualty agents and brokers a “virtual” life insurance department to enhance sales,...
A.M. Best: P/C Industry Reports Underwriting Loss
Feb 14 2006 // Driven by the largest natural catastrophe in U.S. history, Hurricane Katrina, the U.S. property/casualty industry’s underwriting loss was $2.8 billion for the first nine months of 2005, reversing the $3.4 billion...
Max Re Posts $11.4 Million Q4 Loss; $6.7 Million 2005 Profit
Feb 13 2006 // Bermuda-based reinsurer Max Re Capital Ltd. reported a net loss for the three months ended December 31, 2005 of $11.4 million, or 20 cents per diluted share, compared to net income of $87.1 million, or $1.82 per diluted...
Mission Insurance Estate Liquidated, Claimants To Receive $530 Million
Feb 9 2006 // California’s Conservation and Liquidation Office (CLO) will distribute $530 million to policyholders and claimants from the liquidated estate of the Mission Insurance Companies, California Insurance Commissioner John...
