Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
What 3Q Catastrophe Losses Mean for U.S. P/C Results
Oct 16 2020 // Driven by an elevated frequency of events during the quarter, third quarter natural catastrophe losses for the U.S. property/casualty insurance industry will be the largest since the third quarter of 2017, according to...
NFP Acquires UK-Based P/C Broker Ernest R. Shaw Ltd.
Oct 12 2020 // NFP, a New York City-based insurance broker and consultant, announced the acquisition of Ernest R. Shaw Ltd. in a transaction that closed on Sept. 1, 2020. Financial details of the deal were not disclosed. ER Shaw, located...
Top 10 Reasons P/C Insurers Run Afoul of Regulators’ Market Conduct Exams
Oct 8 2020 // Claims errors continue to be the most frequent reason that property/casualty insurers are cited by regulators when responding to market conduct complaints or during routine examinations, according to a report by Wolters...
Cypress P&C of Florida Promotes Rine to President, Names Hillier as CFO, Treasurer
Oct 6 2020 // Cypress Property & Casualty Insurance Co. has promoted Jay Rine to president and new hire, Trevor Hillier will assume the role chief financial officer and treasurer. Rine joined Cypress in 2017, most recently serving...
SCOR Global P&C Restructures with Aim to Be More Responsive on Regional Basis
Oct 5 2020 // SCOR Global P&C is making a number of changes to its organizational structure to be more responsive on a regional basis, according to SCOR Global P&C CEO Jean-Paul Conoscente, who sent a message to clients on...
P/C Mutual Insurers Improved Underwriting in 2019: AM Best
Oct 5 2020 // Top 10 Hold 72% of Market: AM Best Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting...
Rourke Appointed as SVP, General Manager of The Church Insurance Companies
Sep 30 2020 // The Church Pension Group (CPG), a financial services organization that serves The Episcopal Church, has appointed Christopher R. Rourke as senior vice president and general manager of The Church Insurance Companies...
The State of Surplus Lines Insurance: Busy Solving Risk Puzzles in a Complex World
Sep 30 2020 // Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly...
Peak Re Appoints Pioneer’s Souter as Director of Markets for P/C Business
Sep 24 2020 // Hong Kong-based Peak Re announced the appointment of Andrew Souter as director of markets responsible for developing the company’s property/casualty reinsurance business. Souter brings with him 18 years of experience...
Insurer Impact from Sally Expected to be Moderate; Losses Estimated at $1B to $3B
Sep 23 2020 // Insured losses from Hurricane Sally could reach as much as $3 billion, according to catastrophe modelers, but ratings agency Moody’s expects a moderate impact on property & casualty insurers and...
P/C Mutual Insurers Improved Underwriting in 2019; Top 10 Hold 72% of Market: AM Best
Sep 22 2020 // Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting performance in 2019 and managed to...
Welcome to Insurance Journal’s annual Top 20 Agency Partnerships report. This report is ranked by total property/casualty revenue for 2019.
Sep 21 2020 // Today’s Agency Partnerships are numerous and offer value and benefits to their members, including independence, growth opportunities, access to markets, profit sharing, perpetuation planning, relationships,...
MetLife Looks to Sell P&C Auto and Home Insurance Business: KBW Analysts
Sep 20 2020 // MetLife is pursuing a sale of its property/casualty auto and home insurance business, according to a report by analysts following the company Keefe, Bruyette & Woods (KBW) analysts, Ryan Krueger and Meyer Shields, said...
Moody’s Says Property/Casualty Insurers Face Significant Losses from Western Wildfires
Sep 17 2020 // Dozens of wildfires raging in California, Oregon, Washington and other Western states have resulted in loss of life, damaged or destroyed about 9,657 homes and commercial structures and burned more than 5 million acres,...
NHC: Tropical Storm Sally Strengthens to Hurricane
Sep 14 2020 // Update 4:00 pm EST: Louisiana and Mississippi residents were under evacuation orders on Monday as Hurricane Sally churned across the Gulf of Mexico, strengthening to a hurricane ahead of expected landfall on Tuesday, the...
NHC: Tropical Storm Sally Strengthens to Hurricane
Sep 14 2020 // Louisiana and Mississippi residents were under evacuation orders on Monday as former Tropical Storm Sally strengthened to a hurricane status and churned across the Gulf of Mexico, the U.S. National Hurricane Center...
COVID-19 Takes Toll on Canada’s Auto, Life Insurers
Sep 10 2020 // Canada’s property/casualty insurance industry thus far has fared better than its life counterpart amid the economic and market dynamics created by the COVID-19 pandemic, according to an AM Best report. In its...
Property/Casualty Insurance First-Half Underwriting, Net Income Drops Tied to COVID
Sep 7 2020 // U.S. property/casualty insurance underwriting income dropped 5.5% in the first half of 2020 versus the same period last year. Higher underwriting expenses and policyholder dividends largely connected to COVID-19 costs are...
Solving Risk Puzzles in a Complex World
Sep 7 2020 // Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly...
China Reinsurance Group’s Premiums Rise 20% in First Half
Sep 1 2020 // In the first half of 2020, China Re Group Corp. enjoyed rapid growth in premiums and steady profitability despite the pandemic. In the first half of 2020, gross written premiums increased 20.5% year-on-year to RMB102.1...
