Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
People
Jan 22 2006 // The Insurance Council of Texas elected James Langford as chairman of its Board of Directors effective Jan. 1, 2006. Langford is the assistant vice president of compliance, regulatory and governmental affairs, and training...
Producers’ own liability grows as they and their clients expand
Jan 22 2006 // News Currents Property and casualty insurance agents and brokers are being exposed to more lawsuits as they move into unfamiliar products, states and technologies, and as their clients do the same. Cus-tomers and juries...
Best Affirms FSR for Clarendon Group
Jan 18 2006 // A.M. Best Co. has assigned a financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” to the newly formed Praetorian Financial Group (Praetorian) (Wilmington, Del.) and its...
U.K.’s CFS Announces New Corporate Structure for its P/C Operations
Jan 17 2006 // The U.K.-based insurer Co-operative Financial Services (CFS) has announced the creation of CIS General Insurance Ltd. (CISGIL) which will insure all new and renewing Co-operative Insurance Society (CIS) motor, home and...
SCOR’s P/C, Credit and Surety Treaty Renewal Premiums Up 25%
Jan 16 2006 // France’s SCOR Group announced that “premium income linked to Non-Life and Credit & Surety treaties up for renewal on 1 January 2006 is up by around 25 percent.” The bulletin added, “these...
PGI Commercial Partnership to Serve Habitational Risks
Jan 11 2006 // PGI Commercial, a provider of property and casualty insurance programs based in Morristown, N.J., has formed new partnerships in order to provide habitational insurance programs. PGI’s new partners, Sirius America...
Personal Lines Doing Fine, Even Without Price Changes, Suggest P&C Analysts
Jan 11 2006 // The year 2005 is looking like it was a relatively good one with solid financial news for property casualty insurers overall, despite record catastrophe losses, and 2006 could bring even better news, according to analysts...
S&P Maintains Stable Outlook on Italian Insurance Industry
Jan 9 2006 // In a recently issued study “Insurance Industry Risk Analysis: Italy (Republic of),” Standard & Poor’s Ratings Services said it is maintaining its stable outlook on the Italian insurance industry....
Analysts Predict Faster P/C Premium Growth, Underwriting Profit in 2006
Jan 5 2006 // Record catastrophe losses will weigh heavily on 2005’s underwriting results, pushing what would have been the industry’s largest underwriting profit ever into a loss situation, according to the Insurance...
Japan Internet Mall Operator Considers Entering P/C Market
Jan 4 2006 // Rakuten, one of Japan’s top Internet shopping mall operators, has reportedly announced that it is considering entering the country’s nonlife insurance business to boost its growing financial operations. A...
People
Jan 1 2006 // Crump Insurance Services of Texas Inc. appointed three new members to the Dallas property/casualty brokerage team: Brent Jenkins, Stephanie Murillo and Matt Sheehan. Additionally, Elizabeth Wafer has joined the P/C team at...
2005 P/C industry in a word: Resilience
Jan 1 2006 // The property/casualty insurance industry reported a statutory rate of return on average surplus of 9.5 percent through the first nine months of 2005, marginally below the 10.5 percent average return recorded during...
Insurers’ Income, Surplus Rise Despite Record Catastrophe Losses
Dec 28 2005 // The U.S. property/casualty insurance industry’s net income after taxes rose 4.4 percent, or $1.2 billion, to $28.8 billion in nine-months 2005 from $27.6 billion in nine-months 2004. Reflecting the industry’s...
Bowman Named COO of Crawford’s Global Property and Casualty Services
Dec 21 2005 // Jeffrey T. Bowman, president of Crawford & Co’s International Operations, has been named chief operating officer of the firm’s Global Property and Casualty Services, effective Jan. 1. This newly created...
Alternative Products Changing P/C Landscape
Dec 19 2005 // “Convergence products,” or alternative insurance products such as catastrophe bonds and finite reinsurance products, will play a critical part in the competitive landscape of the P/C industry in coming years,...
People
Dec 18 2005 // Louisiana Insurance Commissioner Robert Wooley announced that Clarissa A. Preston has been named deputy commissioner of the Louisiana Department of Insurance Office of Property and Casualty, and Scott Kipper is now deputy...
The Industry Goes to School: Universities that Offer Insurance Degrees
Dec 18 2005 // Twenty years ago, it was nearly impossible to find colleges and universities offering degrees in insurance. Now there are many programs across the nation that offer bachelor’s degrees, concentrations, certifications,...
SCOR Acquires Alea’s Renewal Rights to European P/C Treaties
Dec 16 2005 // French reinsurer SCOR Group announced that it has reached agreement with the Alea Group to acquire the renewal rights to its European reinsurance treaties for 2006. The move follows Alea’s sale of its renewal rights...
Katrina & Rita Opened a “Pandora’s Box” for P/C Industry, Says S&P
Dec 15 2005 // A new report from Standard & Poor’s notes that “Hurricane Katrina, followed closely on its heels by Hurricane Rita, wound up revealing the flaws in many insurance-industry assumptions.” The article,...
Swiss Re Reviews 2005, Takes Look Ahead at Upcoming Industry Year
Dec 14 2005 // Andreas Beerli, CEO of Swiss Re’s Property & Casualty business in the Americas, recently hosted the company’s annual year-end economic and insurance industry review and outlook and led the discussion about...
