Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Best Reports P/C Insurers “Post Solid Results;” $9 Billion Profit for 1st Half of 2004
Sep 21 2004 // According to a new special report from A.M. Best Co., the U.S. P/C industry recorded an underwriting profit of nearly $9 billion during the first six months of 2004, a substantial gain from the comparable period of...
Best Reports 28% Increase in Direct Premium Volume for Surplus Lines Industry By End of 2003
Sep 21 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 approximately 28 percent over the prior year, which followed an estimated 62...
ATLANTIC AMERICAN CORP. UNVEILS Q2 REPORT:
Sep 20 2004 // Atlanta-based Atlantic American Corp. announced net income of $1.1 million, or $0.04 per diluted share, for the second quarter ended June 30, 2004, compared to net income of $1.2 million, or $0.04 per diluted share, for...
P/C INSURERS REPORT FIRST UNDERWRITING PROFIT SINCE 1997:
Sep 20 2004 // Dramatic improvements in underwriting performance by the nation’s property/casualty insurers led to the first underwriting gain in nearly seven years, according to the Jupiter, Fla.-based financial analysis firm...
Insuring the Cornhusker State
Sep 20 2004 // The U.S. Census Bureau’s 2000 census estimated Nebraska’s population at 1.7 million. About 87 percent of the adult residents had graduated from high school and about 24 percent had earned a bachelor’s...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
Fitch Estimates Ivan May Become Second Costliest Hurricane For U.S. P/C Insurers
Sep 17 2004 // Chicago-based Fitch Ratings has issued some preliminary comments on the extent of the losses from Hurricane Ivan’s destructive rampage through Alabama, Florida and other Gulf Coast States. Fitch noted that...
Primary Group Adds Ga. P/C Inspector
Sep 17 2004 // Primary Group Inc., the U.S. holding company of Bermuda-based insurance distribution organization Primary Group Ltd., announced the acquisition of Georgia-based Site Inspections LLC. The transaction involves the purchase...
Best Downgrades AXA Re Property/Casualty
Sep 17 2004 // A.M. Best Co. has downgraded the financial strength rating to “B++” (Very Good) from “A-” (Excellent) of AXA Re Property and Casualty Insurance Company (New York, N.Y.). The rating outlook remains...
S&P Revises Outlook on Italy’s Generali to Stable; Affirms ‘AA’ Ratings
Sep 14 2004 // Standard & Poor’s Ratings Services announced that it has revised to stable from negative its outlook on Assicurazioni Generali SpA, the parent and main property-casualty company of the pan-European insurance...
Aviva to Sell Asian P/C Business to Mitsui Sumitomo
Sep 7 2004 // The U.K.’s Aviva (ex-CGNU) has agreed to sell its Asian non-life business to Japan’s second largest general insurer (after Tokio Marine) Mitsui Sumitomo Insurance Co Ltd. (MSI), for £249 million ($443...
N.J. Dept. Posts Insurance Company Reviews
Sep 7 2004 // Residents wanting to learn more about an insurance company they do business with can now access market conduct information online. Sixteen insurance company examinations are on the New Jersey Department’s Web site...
Sandlin Named New Practice Leader at Summit Global
Sep 6 2004 // Insurance brokerage and consulting firm Summit Global Partners of Texas Inc. announced the selection of Diane N. Sandlin as property and casualty practice leader of its Austin and Houston offices. Sandlin will manage...
Three Years Later: Industry Rebuilds from 9/11, But Doesn’t Forget
Sep 6 2004 // Robert Hartwig, senior vice president and chief economist for the Insurance Information Institute (I.I.I.), knows that while Tuesday, Sept. 11, 2001, will never be forgotten both inside and outside the insurance industry,...
RiskProNet Members Offer Tips for Successful Cross-Selling
Sep 6 2004 // Giving lip service to the benefits of cross-selling is easy. Executing the strategy is quite a bit harder. What are key ingredients in successfully cross-selling property/casualty and employee benefits? At RiskProNet...
ACE Announces Japan, N.Z. Management Changes
Aug 31 2004 // ACE Overseas General, the non-U.S. insurance operations of The ACE Group of Companies, announced from Bermuda that Neil C. Smith has been appointed as President of ACE Far East. He succeeds Scott Pickering, who has been...
Weiss: P/C Insurers Report First Underwriting Profit Since 1997
Aug 31 2004 // Dramatic improvements in underwriting performance by the nation’s property/casualty insurers led to the first underwriting gain in nearly seven years, according to the Jupiter, Fla.-based financial analysis firm...
Swiss Re 1st Half Net Doubles to $1.1 Billion
Aug 26 2004 // Swiss Re’s excellent results for the first half of 2004 is additional evidence that 2004 promises to be a banner year for industry bottom lines. The Zurich-based reinsurer announced that its net income during the...
Property/Casualty Brokers Let Feedom Ring
Aug 23 2004 // Regulators are putting unwanted attention on commercial insurance broker compensation, but it’s unlikely that compensation plans will move away from the fee-based model the industry has been slowly migrating to the...
ICT Symposium Focused on Regulation, State of the Market and More
Aug 23 2004 // Attendees at the 12th Annual Mid-Year Property and Casualty Symposium presented in July by the Insurance Council of Texas and the Association of Fire and Casualty Companies in Texas (AFACT) were treated to a series of...
