Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AM Best: US P/C Industry Improves Despite 2024 Underwriting Loss
Feb 21 2025 // The U.S. property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. A report from industry rating agency AM Best this week said U.S. P/C...
People Moves: BMS Taps Howden Re’s Biddell as Managing Director and Head of London P/C; MGA DUAL UK Makes 3 Senior Appointments in Underwriting and Distribution
Feb 13 2025 // This edition of International People Moves details appointments at the broker BMS and the managing general agent DUAL UK. A summary of these new hires follows here. BMS Taps Howden Re’s Biddell as Managing Director...
13 US P/C Companies Impaired in 2023: AM Best
Feb 6 2025 // Thirteen U.S. property/casualty companies became impaired in 2023, 10 of which were placed into insolvent liquidation, according to an AM Best report. The insurance company impairments identified in the U.S....
Pennsylvania Says It Blocked $180 Million in Auto, Home, Other P/C Insurance Hikes
Jan 31 2025 // The Pennsylvania Insurance Department (PID) reported that in 2024 it refused to approve $180.3 million in annual property/casualty (P/C) insurance premium increases in the state through its rate review processes. The PID...
Chubb Posts Record P/C Underwriting Income for Q4 and 2024
Jan 29 2025 // Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8% during the last quarter of 2024. Fourth quarter net income was down 22% to about $2.6 billion compared to the same period a year ago,...
P/C Market Profit Improvement Expected to Continue Through 2026: Triple-I, Milliman
Jan 17 2025 // The “gap is closing” between commercial lines and personal lines underwriting results as the insurance industry overall is expected to continue its run of premium growth and improved underwriting results over...
People Moves: Lockton Re’s International P/C Division Names Moruzzi, Cope as Senior Brokers; Westfield Specialty Int’l Appoints Nugent, Beltran for Professional Indemnity
Jan 15 2025 // This edition of International People Moves details appointments at Lockton Re and Westfield Specialty International. A summary of these new hires follows here. Lockton Re’s International P/C Division Appoints Moruzzi...
Moody’s Global P/C Outlook Now Stable Despite Past-Peak Commercial Pricing
Jan 7 2025 // Moody’s Ratings changed the sector outlook for the global property/casualty insurance industry to stable from negative last month, pointing to personal lines price hikes in the U.S. and UK as a reason for the...
Fitch: US P/C Insurers Hold at Neutral for 2025
Dec 12 2024 // U.S. property/casualty insurers are positioned favorably heading into 2025, Fitch Ratings forecasted in its annual outlook report. Citing “a strong personal lines turnaround” and “resiliency following an...
AM Best: US P/C Industry Reverses Nine-Month Underwriting Loss
Dec 4 2024 // Growth in net earned premiums outpaced a slight increase in losses and loss adjustment expenses to result in the U.S. property/casualty industry posting a nine-month 2024 underwriting profit of $4.1 billion versus a loss...
Swiss Re Agrees to Sell iptiQ’s European P&C Business to Allianz Direct
Nov 5 2024 // Swiss Re has agreed to sell iptiQ’s European P&C business to Allianz Direct, in line with its strategic decision to withdraw from iptiQ. Allianz Direct, the pan-European online insurer of Allianz Group, will take...
S&P Reveals Top 50 Largest P/C Insurers
Oct 25 2024 // As the third-fastest growing company on a list of the world’s top 50 largest insurers, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market...
Hurricane Milton Could Use Up P/C Insurers’ 2024 Catastrophe Budgets
Oct 10 2024 // S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings. In a...
Property/Casualty Insurance Stocks Slump on Hurricane Milton-Related Fears
Oct 8 2024 // U.S. property and casualty insurance stocks tanked on Monday after Hurricane Milton intensified into a category 4 storm on its path towards Florida’s western coast, marking yet another costly disaster for the...
Viewpoint: Strike’s Duration Will Determine Impact on P/C Insurance Industry
Oct 2 2024 // The International Longshoremen’s Association (ILA) went on strike on Tuesday, Oct 1. The strike is expected to affect more than 20 ports along the Eastern Seaboard and Gulf Coast, including the ports of New York and...
People Moves: AXA XL Promotes Flanagan to Lead P&C Bermuda; Intangic Names Cryer as Dir. of Client Solutions; Dale Names Daniel Head of Global Property Reinsurance
Sep 27 2024 // This edition of International People Moves details appointments at AXA XL Bermuda, the tech risk platform Intangic, and the Lloyd’s insurer Dale Underwriting Partners. A summary of these new hires follows here. AXA...
Canada’s Axis Insurance Acquires P/C Broker Baker Insurance
Sep 27 2024 // Axis Insurance Managers Inc., the Vancouver, Canada-based insurance broker, announced the acquisition of Baker Insurance, a property/casualty brokerage based in Calgary. Financial details of the deal were not...
Personal Lines Turnaround Fuels US P/C Industry Underwriting Gain
Sep 17 2024 // A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new report from AM...
US P/C Insurance Industry Posts First H1 Underwriting Profit Since 2021
Sep 16 2024 // The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses,...
People Moves: JM Wilson Hires Musolf and Hudson as Assistant Property & Casualty Underwriters; Group Captive Program Leader Albian Joins Ryan Alternative Risk
Sep 12 2024 // Savana Musolf JM Wilson, headquartered in Portage, Michigan, hired Savana Musolf and Lisa Hudson as assistant property and casualty underwriters. Lisa Hudson Musolf works with independent insurance agents and company...
