Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Royal & Sun Alliance Agrees to Sell Viking Insurance to Sentry Insurance
Jul 29 2005 // Charlotte, N.C.-based Royal & Sun Alliance has agreed to sell Viking Insurance, its specialty U.S. non-standard auto business to Sentry Insurance, of Stevens Point, Wisc. for $200 million in cash. The purchase is...
Allmerica Doubles 2d Quarter Profit Thanks to Strong P/C Results
Jul 27 2005 // Allmerica Financial Corp. announced that its profit in the second quarter more than doubled due to strong growth in the company’s property and casualty segment. Net income grew to $72 million, or $1.34 per share,...
CIAB: Commercial P/C Market Softens More in Second Quarter
Jul 20 2005 // The commercial property/casualty market continued to soften during the second quarter of 2005, with commercial insurance brokers reporting that insurers are aggressively competing for new business and fighting hard to keep...
Conning Forecasts Strong PC Insurance Results Through 2007
Jul 20 2005 // Property/casualty insurance industry results should be relatively strong from 2004 through 2007, according to a new study by Conning Research and Consulting Inc. “Our latest projections indicate a slightly better...
Success Stories Abound at ICT’s Mid Year Symposium
Jul 19 2005 // Speakers at the Insurance Council of Texas’ 2005 Mid Year Property and Casualty Symposium had good news to tell about both the property and casualty industry and the 2005 regular session of the Texas Legislature. The...
Russo Promoted at Keenan
Jul 19 2005 // Torrance, Calif.-based Keenan & Associates announced that Tom Russo has been promoted to the position of Northern California Practice Leader for Schools–Property & Casualty. Keenan serves 800-plus...
New SOX Rules Don’t Fit Mutual Insurers for Size
Jul 18 2005 // For mutual property/casualty insurers, year-one SOX compliance costs would exceed $300 million. It’s obvious to us at the National Association of Mutual Insurance Cos. that there are crucial differences between...
New SOX Rules Don’t Fit Mutual Insurers for Size
Jul 18 2005 // It’s obvious to us at the National Association of Mutual Insurance Cos. that there are crucial differences between public and mutual insurers. That’s why we oppose the National Association of Insurance...
The Industry Goes to School: Universities That Offer Insurance Degrees
Jul 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...
P/C CLAIMS REPORTS HEARING SCHEDULED
Jul 18 2005 // The Arkansas Insurance Depart-ment will hold a public hearing July 27 to determine whether Insurance Commissioner Julie Benafield Bowman should revise and re-adopt Rule and Regulation 61, “Insurer Reports of Arkansas...
Drawert Honored with ICT’s Raymond Mauk Award
Jul 15 2005 // Jim Drawert, vice president and chief underwriting officer for The Republic Group, was presented the Raymond Mauk Leadership Award on July 14, at the Insurance Council of Texas’ 13th Annual Mid-Year Property and...
Registration for La. P/C Form and Rate Filing Seminar Underway
Jul 15 2005 // The Louisiana Department of Insurance will hold its 4th annual Property and Casualty Form and Rate Filing Seminar on Thursday, Sept. 22, at the Hyatt Regency, Poydras at Loyola Avenue, in New Orleans. The seminar will...
Citizens/Hanover Touts Multi-Variate ‘Connections Auto’ as Winner
Jul 14 2005 // The Citizens and Hanover Insurance Companies’ new Connections Auto, a state-of the-art, multi- variate auto product with greater customer segmentation capabilities, is off to a strong start in its initial launch...
ISO: U.S. P/C Industry’s First Net Gain on Underwriting Since ’78 Moves Surplus to Record High
Jul 14 2005 // Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses. Powered by the best underwriting results in almost three...
Best Affirms FSR for Max Re, Max Re Capital; Rates European Operations
Jul 13 2005 // A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” for Max Re Ltd. (Max Re). A.M. Best has also affirmed the ICR of “bbb-” of...
Best Takes Various Actions on 52 Canadian P/C Insurers
Jul 11 2005 // A.M. Best Co. has affirmed the financial strength ratings of 36 Canadian insurers, downgraded the ratings of four, upgraded the ratings of nine and assigned ratings to three Canadian property/casualty insurers. These...
ACE Europe Appoints Furgueson President U.K. and Ireland
Jul 8 2005 // ACE European Group has announced that Michael Furgueson has been appointed President of ACE’s business operations in the United Kingdom and Ireland. He succeeds Carl Bach, who is moving to a new posting with ACE USA,...
International Newsbriefs
Jul 4 2005 // EU Leaders Fiddle While Europe Burns: The crisis in the European Union, provoked when French and Dutch voters rejected the EU Constitution, is being largely ignored by Europe’s leaders. Instead of a bit of...
Insurers Holding the Price Line – for Now
Jul 4 2005 // The insurance industry is entering a soft market, but unlike earlier soft markets, carriers have not cut prices to gain market share. Numerous life, property/casualty, and reinsurance executives say that underwriting...
Insurers Holding the Price Line-For Now
Jul 4 2005 // The insurance industry is entering a soft market, but unlike earlier soft markets, carriers have not cut prices to gain market share. Numerous life, property/casualty and reinsurance executives say that underwriting...
