Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Webster Financial to Acquire Conn. P/C Agency
Jan 7 2003 // Webster Financial Corporation, a Waterbury, Conn.-based holding company for banking and insurance subsidiaries, announced the acquisition of The Mathog & Moniello Companies, an insurance agency in East Haven...
Endurance Reinsurance Corp. of America Receives A- Rating
Jan 2 2003 // Endurance Specialty Holdings announced that its U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re) has received Endurance’s group rating of A- (Excellent) from A.M. Best. Endurance Re is...
N.Y. Dept. Issues Guidance on Federal Terrorism Bill
Jan 1 2003 // New York Superintendent of Insurance Gregory Serio has issued guidance to the industry on the Federal Terrorism Bill. Circular Letter 25 of 2002 lays out the applicability, guidelines, and compliance procedures for the...
SAFECO Announces Capital Contributions to Operating Subsidiaries
Dec 23 2002 // SAFECO Corp. announced that its board of directors has approved capital contributions from the corporation to its operating subsidiaries. A contribution of $150 million was made to SAFECO’s property & casualty...
Swiss Re Appoints Ann Godbehere as Chief Financial Officer
Dec 20 2002 // Swiss Re announced that its Board of Directors has appointed Ann Godbehere as CFO, effective 1 April 2003, succeeding John H. Fitzpatrick, who’s been named to head Swiss Re’s Life & Health Business...
Endurance Specialty Holdings Forms U.S. Subsidiary
Dec 20 2002 // Bermuda-based Endurance Specialty Holdings Ltd. announced the formation of a wholly-owned U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re). The new company has been granted a license as a New...
Insurance Information Institute Takes Peek at 2003 Forecast
Dec 19 2002 // Each year the Insurance Information Institute (I.I.I.) invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. The survey reveals...
Weak Investment Results Throw Curve at P/C Insurers’ Recovery at Nine-Month Mark
Dec 18 2002 // Thanks to strong premium growth and lower catastrophe losses, the U.S. property/casualty industry earned $9.3 billion in net income after taxes through nine-months 2002, in sharp contrast to the $2.6 billion net loss...
Small P/C Insurers’ Underwriting Success Trumped by Lagging Investment Results
Dec 17 2002 // The competitive advantage that small property-casualty insurers achieved in underwriting at the end of the last decade was nearly offset by lower investment returns, according to a new study from Conning Research &...
Unitrin Downgraded by A.M. Best
Dec 16 2002 // A.M. Best Co. downgraded the financial strength ratings of Dallas-based Unitrin Property and Casualty Insurance Group (Unitrin) to “A” (Excellent) from “A+” (Superior) and removed them from under...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
TYLER MAN INDICTED
Dec 16 2002 // John William Tesseyman III of Tyler, Texas was indicted by a Travis County grand jury for activities that possibly left dozens of petroleum product truckers and fireworks display companies without the automobile, liability...
Solvency Study Shows Continued Good Ratings
Dec 16 2002 // The solvency record of the domestic surplus lines industry continues to mirror that of the total property/casualty industry, according to the ninth annual study of the excess and surplus lines industry by the A.M. Best...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
Ohio Ins. Dept. Introduces P/C Product Requirements Locator
Dec 13 2002 // Holly Saelens, Interim Director of Ohio’s Department of Insurance (ODI), announced the launch of a new “Property & Casualty Product Requirements Locator,” that will provide “a national...
Travelers P&C and AMS Services to Offer Real-time SEMCI Quoting
Dec 13 2002 // Travelers Property Casualty announced it will offer real-time quoting capabilities for small commercial insurance to independent agents with AMS Services Inc. This new capability allows agencies to obtain quotes for...
FMIT Implements INSTEC Solutions
Dec 13 2002 // Commercial property and casualty insurance software provider, INSTEC, announced that the Florida Municipal Insurance Trust (FMIT), has begun using INSTEC’s solution to provide policy rating and issuance on a single...
Economic Factors Fueling P/C Rates; AAI Urges Regulators to Resist Haste to Regulate
Dec 10 2002 // Economic factors such as rapidly increasing claims costs, not some alleged conspiracy aimed at taking advantage of the American public, is driving increases in insurance premiums, according to the Alliance of American...
Texas Man Indicted in Trucking, Fireworks Case
Dec 9 2002 // A Travis County, Texas grand jury indicted John William Tesseyman III of Tyler for fraudulent insurance activities that may have left dozens of petroleum product truckers and fireworks display companies without the...
A.M. Best Affirms Ratings of SAFECO Subsidiaries
Dec 5 2002 // A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of SAFECO Corporation’s (Seattle) property/casualty and life/health insurance subsidiaries. A.M. Best has also affirmed the...
