Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
ING Closes Chile P/C Sale to Liberty Mutual
Apr 14 2005 // The Netherlands ING Group announced that it has closed its transaction to sell ING Chile’s property & casualty insurance operation, ING Seguros Generales, to Boston-based Liberty Mutual Group. The sale was...
PICC to Form Chinese Life Venture
Apr 13 2005 // China’s PICC Property and Casualty Co. Ltd., the country’s largest P/C insurer, is poised to enter the rapidly expanding Chinese life insurance market with the announcement that it is forming a joint venture...
First Underwriting Profit Since 1978, Investment Gains Send Industry’s Net Income and Surplus to Record Highs
Apr 12 2005 // Benefiting from a rare profit on underwriting and investment gains, the U.S. property/casualty insurance industry’s net income after taxes rose 29 percent to a record $38.7 billion in 2004 from $30 billion in...
Fitch Affirms Ratings for HFSG
Apr 12 2005 // Fitch Ratings has affirmed all current ratings of the Hartford Financial Services Group Inc. (HFSG). This includes HFSG’s fixed income ratings and the insurer financial strength rating of the primary life and...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Philadelphia Insurance Cos., CIGNA Partner on Coverages for P/C Customers
Apr 11 2005 // Philadelphia Insurance Companies and CIGNA have finalized a strategic alliance to offer property/casualty insurance to CIGNA’s Participant Accident customers and Participant Accident coverage to PHLY’s...
Hartwig Tells CASRS Seminar Volatile Underwriting Cycle is Back
Apr 7 2005 // The property/casualty industry’s frequently volatile underwriting cycle is back with a vengeance and will have no mercy this time around, Robert Hartwig, senior vice president and chief economist for the Insurance...
Best Comments on Universal Underwriters Group; Downgrades UULIC Rating
Apr 5 2005 // A.M. Best Co. announced that the financial strength rating of “A” (Excellent) of Universal Underwriters Insurance Company, based in Overland Park, Kansas, and its wholly-owned subsidiary, Universal Underwriters...
PCI Seeks Changes to Nevada’s AB 315
Apr 5 2005 // The Property Casualty Insurers Association of America (PCI) is seeking amendments to Nevada legislation that would affect the availability of mechanical data recorded by newer model cars just prior to accidents. “We...
S&P Report Describes Increased Access to Capital Markets for Small, Mid-Sized Insurers
Apr 1 2005 // A study from Standard & Poor’s Ratings Services examines recent changes in the U.S. capital markets, and concludes that they have “have sparked interest in the credit ratings on small and mid-size...
S&P Report Notes Slower Growth in U.S. P/C Surplus
Apr 1 2005 // Standard & Poor’s Ratings Services has published a report comparing the past two years of U.S. P/C surplus growth, titled “U.S. Property/Casualty Surplus Growth Slows In 2004.” S&P credit...
Q4 Rescues Hannover Re 2004 Profits from Hurricanes
Mar 30 2005 // Germany’s Hannover Re Group reported 309.1 million euros ($400 million) net after tax income for 2004, down 12.9 percent from 2003’s 354.8 million euros ($459.8 million). The company’s earnings report,...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
Richardson Named Texas Regional VP for Hanover
Mar 28 2005 // The Citizens and Hanover Insurance Companies announced that Debra Richardson has been named regional vice president of The Hanover Insurance Company’s Texas region. In this capacity, Richardson will be responsible...
ACE P/C Operations Approved for Russia, Poland
Mar 25 2005 // The ACE Group of Companies announced that it has received regulatory approvals to commence property and casualty insurance operations in Poland and Russia. The U.K.’s Financial Services Authority (FSA) has...
Wausau Signature Agency Forms Group Benefits Division Targeting Upper Midwest
Mar 24 2005 // Wisconsin-based Wausau Signature Agency has increased its focus on employee benefits by forming a group benefits division in the Upper Midwest states. “As part of our commitment to meet all of the insurance needs of...
ING To Sell Chile P/C Operations to Liberty Mutual
Mar 22 2005 // The Netherlands’ ING Group announced that it has signed an agreement to sell ING Chile’s property & casualty insurance operation, ING Seguros Generales, to the Boston-based Liberty Mutual Group. Financial...
CPCU Society Looking into IMSA Standards Model for P/C Industry
Mar 21 2005 // Should P/C Industry Response to Ethical Lapses Include a Self-Regulatory Body? The property casualty industry’s leading educational society is weighing what role to play in helping the industry restore its image...
Serving the Friendly Skies
Mar 21 2005 // When the 1970s began, Bill Moloney was afraid of flying. When the 21st century dawned, he had his own aviation brokerage based in an airport and flew his plane as often as he could. Moloney, a self-described...
ACE Europe Announces 3 New P/C Business Units for U.K., Ireland
Mar 21 2005 // ACE European Group announced the creation of three new business units “to target growth opportunities in specific property and casualty (P&C) business lines in the UK and Ireland.” The new units are ACE...
