Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Insurers’ Premiums Surge $28B in First Three Quarters of 2002
Mar 4 2003 // Premiums earned by the nation’s property and casualty insurers surged $27.8 billion, or 12 percent, during the first three quarters of 2002, to $258.7 billion from $230.9 billion during the same period in 2001,...
Vesta Reports Gains in 4th Qtr. 2002
Mar 3 2003 // Vesta Insurance Group Inc. of Birmingham, Ala., reported net operating earnings of $4.5 million, or $0.13 per share in the fourth quarter 2002 compared to a loss of $2.3 million, or $(0.07) per share for the corresponding...
AXA Reports 10% Gain in 2002 “Underlying Earnings”
Feb 27 2003 // France’s AXA Group posted a 10 percent increase in “underlying earnings” for the year 2002, helped by significant increases in premiums in its P/C business. The results, while generally good, also reflect...
P/C Seminars for Product Management, Pricing/Rate Making to be Held
Feb 26 2003 // Dorman Consulting Associates’ product related seminars for the P/C industry have each been scheduled in Chicago, San Francisco and Boston this spring. More than 4,300 employees from over 540 P/C companies have...
Swiss Re’ Expects $74 Million 2002 Loss; January Renewal Rates up 10%
Feb 26 2003 // Swiss Re indicated that it expects to post a net loss in the CHF 100 million ($73.7 million) range for the year 2002, due primarily to weakness in global equity markets, but the company also announced that the January...
S&P’s Report Examines U.S. Insurer Failures for 2002
Feb 25 2003 // Standard & Poor’s has published a report that examines failures among U.S. insurers in 2002. “Despite the hardening pricing environment in property/casualty and health insurance lines, the number of U.S....
Time to Jump on the Employee Benefits Bandwagon’
Feb 24 2003 // In some respects, the world of employee benefits seems to be on a roll. The Indepen-dent Insurance Agents & Brokers Association (IIABA) reports that about 26 percent of the U.S. agencies examined in its “2002...
Time to Jump on the Employee Benefits Bandwagon’
Feb 24 2003 // In some respects, the world of employee benefits seems to be on a roll. The Indepen-dent Insurance Agents & Brokers Association (IIABA) reports that about 26 percent of the U.S. agencies examined in its “2002...
Prudential P/C Grp. Under Review
Feb 24 2003 // The financial strength rating of “A-” (Excellent) of Prudential Property and Casualty Group and its separately rated subsidiary, THI Holdings Group (Cleveland, Ohio), are under review by A.M. Best, with...
AFG’s Fourth Quarter Earnings Up 40% Over 2001
Feb 20 2003 // American Financial Group Inc.’s (AFG) fourth-quarter net earnings were up 40 percent from a year earlier to $44.2 million, or 64 cents per share, from $31.5 million, or 46 cents per share, thanks to AFG’s focus...
P/C Reserves in for Tighter Scrutiny
Feb 19 2003 // The property/casualty industry’s reserves will be scrutinized more closely, Fitch Ratings has announced. Specifically, Fitch’s analyses will target reserves from U.S. casualty business written between 1997 and...
P/C Insurers Expected to Pay $5.8B for Insured Property-Loss Catastrophe Losses
Feb 14 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
Infinity P/C Earns ‘A’ Rating From A.M. Best
Feb 14 2003 // A.M. Best Co. has assigned a financial strength rating of A (Excellent) to Infinity Property and Casualty Group, the core auto subsidiaries of Infinity Property and Casualty Corp. (IPCC), based in Birmingham, Ala. IPCC was...
S&P Lowers CNA Surety Ratings, Sees Growth for P/C Companies
Feb 13 2003 // The Standard & Poor’s ratings of CNA Surety Corp. subsidiaries Western Surety Co. and Universal Surety of America have been lowered from ‘A’ to ‘A-.’ In addition, Standard &...
Fitch Affirms SAFECO’s Ratings
Feb 12 2003 // Fitch Ratings has affirmed the ‘AA-‘ insurer financial strength ratings of SAFECO Life Insurance Company and the SAFECO Property/Casualty Group. Fitch has also affirmed its ‘A-‘ long-term and senior...
S&P Lowers AXA Group Ratings to ‘AA-‘
Feb 12 2003 // Standard & Poor’s Ratings Services announced that it has lowered all insurer financial strength and counterparty credit ratings on the core operating companies of France’s AXA group to ‘AA-‘...
Horace Mann Improves, But Ends Down for the Year
Feb 10 2003 // Horace Mann Educators Corp., based in Springfield, Ill., today reported net income of $13.5 million, or 33 cents per share, for the fourth quarter, up from $4.8 million, or 12 cents per share, for the year-earlier quarter....
P/C Pricing Growth Fastest Since 1986, New York Analysts Told
Feb 10 2003 // The property and casualty industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, a trend that will certainly continue throughout 2003 and...
Midland’s Fourth-Quarter P/C Premiums Up 8.9%
Feb 7 2003 // The Midland Co., a provider of specialty insurance products and services, reported fourth-quarter 2002 net income before capital gains/losses of $7.7 million, or 43 cents per share, compared with $9.3 million, or 51 cents...
AXA 2002 Gross Revenues Top $80 Billion
Feb 6 2003 // France’s AXA Group released earnings results showing that its total gross revenues in 2002 reached 74.728 billion Euros ($80.7 billion), approximately the same figure it reported for 2001. The company said, however,...
