Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Rockwood Expands E&O Program for P&C Agents
Oct 21 2004 // Rockwood Programs has finalized negotiations with multiple insurance carriers and Lloyds Syndicates to expand its existing Errors & Omissions program for property and casualty agents. This program was designed to...
The Midland Co. Reports Q3 Profit
Oct 21 2004 // Cincinnati-based The Midland Company, a provider of specialty insurance products and services, reported results for the third quarter ended Sept. 30, 2004. Net income per share was 12 cents, which included 1 cent in...
Q3 Commercial P/C Premiums Continue Fall
Oct 20 2004 // Commercial property/casualty insurance premiums continued to decline significantly during the third quarter of this year, with two-thirds of all large and medium accounts experiencing drops of up to 20 percent and an...
Safeco Unveils Q3 Numbers, Notes Hurricane Impact
Oct 19 2004 // Seattle-based Safeco on Tuesday reported third-quarter results, reflecting strong fundamentals in a period with substantial hurricane losses and the loss on the sale of Life & Investments. The company posted a net...
Jenkins to Lead P/C Ops for Baldwin Resource Group
Oct 19 2004 // Don Jenkins, executive vice president of Bellevue, Wash.-based Baldwin Resource Group, has been named to lead the Property and Casualty Insurance Operations for the company. Jenkins oversees Baldwin Resource Group’s...
United National, Penn-America, Penn Independent Join Forces to Become United America Indemnity
Oct 15 2004 // United National Group Ltd., Penn-America Group Inc. and Penn Independent Corporation (PIC), a privately-held company, have announced their agreements to combine operations in transactions aggregating over $800 million in...
Assurex Global Adds Four New Partners
Oct 13 2004 // Assurex Global has expanded its worldwide presence with the addition of international broker Partners in Monte Carlo, Monaco; Baton Rouge, La.; Philadelphia, Penn.; and Wilmington, Del. The newest Assurex Global Partners...
N.Y.’s Serio Defends States as Federal Oversight Debate Begins
Oct 11 2004 // State insurance commissioners stood their ground last month at hearings in Washington where they opposed an expanded federal role in insurance regulation and withstood a withering attack on their performance from a leading...
Best Reports 28% Increase in Direct Premium Volume for Surplus Lines
Oct 11 2004 // A special report released by A.M. Best Co. concludes that at the end of 2003, direct premium volume for the surplus lines industry increased by about 28 percent over the prior year, which followed an estimated 62 percent...
The Aloha State – More than Beaches and Rain Forests
Oct 11 2004 // The United States Census Bureau’s Census 2000 estimated the population of the state of Hawaii at 1,211,537. Approximately 85 percent of the adult residents had graduated from high school and about 26 percent had...
ING to Acquire Most of Allianz Canada, S&P Puts Insurer on CreditWatch
Oct 10 2004 // The Netherlands’ ING Group and Germany’s Allianz announced that they have concluded a definitive share purchase agreement for the acquisition of Allianz’ property and casualty (P&C) insurance...
S&P Sees Limited Impact of Typhoons on Japanese P/C Insurers’ Ratings
Oct 7 2004 // Standard & Poor’s Ratings Services indicated that the impact of damage caused by typhoons in 2004 on Japanese non-life insurers is likely to be limited, owing to reinsurance indemnities and catastrophe loss...
Fitch Affirms Chubb’s ‘AA’ IFS Ratings
Oct 7 2004 // Fitch Ratings announced that it has affirmed the ratings of The Chubb Corporation, notably the “AA” insurer financial strength ratings (IFS) of Chubb’s P/C insurance subsidiaries. Fitch noted that these...
P/C Insurers’ Loss Reserves “Remain Deficient” Says Best Report
Oct 6 2004 // A special report from A.M. Best Co. confirms that “a key driving factor of property/casualty rating downgrades over the past several years has been the impact of significant adverse loss and loss-adjustment expense...
HRH Appoints Crowley National Director for P/C
Sep 30 2004 // Hilb Rogal & Hobbs Co. announced that its board of directors has appointed F. Michael Crowley to the position of executive vice president and national director for property/casualty effective immediately. “HRH...
S&P Raises If P&C Ratings to ‘A-‘
Sep 29 2004 // Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Sweden’s If P&C Insurance Ltd. and Finland’s If...
S&P Comments on Hurricane Jeanne’s $7 Billion Impact on U.S. P/C Insurers
Sep 28 2004 // Standard & Poor’s Ratings Services has issued a comment on the state of the U.S. property/casualty insurance industry and its short- and intermediate-term prospects in the wake of Hurricane Jeanne, the fourth...
S&P Bulletin on P/C Holding Company Analysis Method
Sep 27 2004 // Standard & Poor’s Ratings Services has published an article on its Website (www.standardandpoors.com) presenting the rating agency’s approach as to how it evaluates P/C insurance holding companies. Such...
Safeco Announces New Leadership Structure
Sep 27 2004 // Seattle-based Safeco announced a new leadership structure for the company, reflecting its evolution from a turnaround concern to a profit-and-growth enterprise. The cornerstone of the structure is the newly created...
S&P Affirms Co-operators General ‘BBB-‘ Rating; Outlook Raised to Positive
Sep 22 2004 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Guelph, Ontario-based Co-operators General Insurance Co. (CGIC) to positive from stable, and has affirmed its long-term...
