Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Allmerica Names Frederick Eppinger New CEO
Aug 20 2003 // Allmerica Financial Corporation announced that it has named Frederick Eppinger, 44, President, Chief Executive Officer and Director, effective September 8. He will succeed John O’Brien, who resigned in the fall of...
Health Care Costs Play Major Role in Company’s Fortunes
Aug 18 2003 // The cost of health care is the most popular issue that politicians, employers and Americans of all walks of life are talking about. Health care in America represents approximately 15.6 percent of the Gross National Product...
Spalding Honored with ICT’s Raymond Mauk Award
Aug 18 2003 // Clem H. Spalding, who for many years played a major leadership role in the Texas automobile insurance market, was presented the Raymond Mauk Leadership Award at the Insurance Council of Texas’ Mid-Year Property and...
Production, Service & Employee Satisfaction Drive Higginbotham to the Top
Aug 18 2003 // Fort Worth-based Higginbotham & Associates began as a small personal lines agency in 1948 representing Trinity Universal Insurance Company and SAFECO. Today it is one of the largest independent agencies in North...
S&P Cuts Unitrin Debt
Aug 15 2003 // Standard & Poor’s Ratings Services lowered its counterparty credit and senior debt ratings on Chicago-based insurer Unitrin Inc. to “BBB+” from “A-” because of a decline in operating...
Allianz Posts Strong 1st Half Results, $115 Million Profit
Aug 14 2003 // Germany’s Allianz confounded many analysts’ forecasts by reporting strong gains in most of its operations, posting a net profit of 102 million euros ($115.26 million) for the first half of 2003. The...
AIA Calls on N.M. Blue Ribbon Commission to Reduce Tax Toll on Insurers
Aug 12 2003 // The American Insurance Association (AIA) led a delegation of property-casualty trade associations on Monday in urging New Mexico’s Blue Ribbon Tax Reform Commission to recommend real improvements to the state’s...
CPCU Society Gathers in New Orleans Oct. 11-14
Aug 11 2003 // CPCUs can learn about the latest property and casualty insurance topics at the CPCU Society’s 59th Annual Meeting and Seminars, taking place in New Orleans, Oct. 11-14. The Annual Meeting’s Property and...
EMC Reports Q2 Results
Aug 8 2003 // Des Moines, Iowa-based carrier EMC Insurance Group Inc. operating income of 9 cents per share for the second quarter ended June 30, 2003 compared to operating income of 45 cents per share for the second quarter of 2002....
The Hartford Reports Q2 Net Income of $507M
Aug 7 2003 // The Hartford Financial Services Group, Inc. reported net income per diluted share of $1.88 for the second quarter of 2003, up sharply from $0.74 per diluted share in the second quarter of 2002. Net income nearly tripled to...
Infinity P&C Corp. Declares Dividend
Aug 7 2003 // Infinity Property and Casualty Corporation of Birmingham, Ala., announced that it declared a quarterly dividend of $0.05-1/2 per share of Infinity Property and Casualty common stock. The dividend is payable on August 28,...
CNA Financial Reports Q2 Net Income of $70M; Reductions in Workforce to Occur
Aug 7 2003 // CNA Financial Corporation reported net income for the second quarter of 2003 of $70 million, or $0.25 per share, as compared with net income of $31 million, or $0.14 per share, for the same period in 2002. Net income for...
Demotech Makes Loss Reserve Development Information Available
Aug 6 2003 // In the 24-month period from Dec. 31, 2000 through Dec. 31, 2002, the property and casualty industry strengthened prior period loss and loss adjustment expense reserves by approximately $40 billion. Traditionally the...
Horace Mann Stops the Bleeding
Aug 6 2003 // Springfield, Ill.-based Horace Mann Educators Corp. reported net income of $2.1 million (5 cents per share) and $10.2 million (24 cents per share), respectively, for the three and six months ended June 30, 2003, compared...
Vesta Reports Cat Losses for Second Quarter
Aug 6 2003 // Birmingham, Ala.-based Vesta Insurance Group Inc. reported a net operating loss from continuing operations of $5.4 million, or $(0.16) per share in the second quarter of 2003 compared to a net operating loss from...
Max Re Capital Ltd. Reports 2ndQ Net Income of $0.81 per Diluted Share
Aug 5 2003 // Bermuda-based Max Re Capital Ltd. reported net income for the three months ended June 30, 2003 of $30.8 million, or net income of $0.81 per diluted share, compared to a net loss of $5.0 million, or a net loss of $0.13 per...
Travelers P/C Receives Favorable Decision in ACandS Asbestos Arbitration
Aug 4 2003 // On July 31, the panel issued its ruling in the confidential asbestos arbitration between Travelers Property Casualty Corp. and ACandS, Inc. As a result of the ruling, asbestos bodily injury claims paid by ACandS on or...
Milliman USA Announces New P/C Office in N.J.
Aug 4 2003 // Milliman USA announced that it has opened a new office to provide a full range of services to the property and casualty insurance and re-insurance industries. The new Milliman office will consist of the senior consultants...
AFG Posts $30 Million Q2 Profit
Aug 1 2003 // Cincinnati-based carrier American Financial Group Inc. reported second-quarter net earnings of of $30.5 million (44 cents per share). The results included an after-tax charge of $28.5 million (41 cents per share) for the...
Horace Mann Boosts P/C Reserves By $10 Million
Jul 29 2003 // Springfield, Ill.-based Horace Mann Educators Corp., which provides insurance and annuities to educators, announced that its net income for the second quarter and six months ended June 30 was negatively affected by about...
