Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Fitch Adopts Negative P/C Outlook
Sep 15 2000 // It’s not hell-in-a-handbasket yet, but the outlook for the property and casualty industry is far from good. On Thursday, Fitch, the international rating agency formed through the June merger of Duff & Phelps...
Commentary on First Half 2000 Results
Sep 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 5.6 percent (on an annualized basis) during the first half of 2000, down from 8.2 percent during the first half of 1999 and 6.6 percent for...
P/C Industry’s First-Half Net Income Plunges; Combined Ratio at 109.2 for 2000
Sep 14 2000 // The U.S. property/casualty industry’s net income after taxes dropped to $10 billion in this year’s first half, down 32.5 percent from $14.9 billion a year ago. The industry’s surplus fell $7.6 billion, or...
Old Guard Group Shareholders Approve Acquisition by Ohio Farmers
Sep 13 2000 // Old Guard Group, Inc. has received shareholder approval for its acquisition by Ohio Farmers Insurance Company. With more than 71% of the outstanding stock voting, 92% were voted in favor of the transaction. The transaction...
P/C Industry Combined 1st Half Ratio Hits 109.2 in 2000,
Sep 11 2000 // Despite a recent hardening of prices in the property/casualty industry, underwriting performance worsened during the first half of 2000, according to A.M. Best Co.’s six-month report. The industry’s average...
ACORD, CSIO to Collaborate on XML Standards for North America
Sep 8 2000 // Gregory A. Maciag, president and CEO of ACORD, and Klaas Westera, president and CEO of the Centre for Study of Insurance Operations (CSIO), jointly announced that discussions are underway between CSIO and ACORD to...
Commercial P/C Rates Continue Upward
Sep 4 2000 // Commercial property-casualty rates continued to increase across the country, according to a report by The Council of Insurance Agents and Brokers. The same held true in Texas, where brokers estimate premium increases...
IDS P/C, Amex Affirmed
Sep 4 2000 // The “BBBpi” financial strength rating on IDS Property Casualty Insurance Company was affirmed by S&P. The overall objective of the Wisconsin-based company, a wholly owned subsidiary of American Express...
HMN P&C Subsidiaries Get ‘AA’
Sep 4 2000 // “AA” insurer financial strength ratings were assigned to all property/casualty subsidiaries of Horace Mann Educators Corp. by Fitch. The companies are Horace Mann Insurance Co., Teachers Insurance Co.,...
CIBC Completes Sale of its P/C Business
Aug 31 2000 // CIBC completed the sale of its property and casualty insurance companies–The Personal Insurance Company of Canada and CIBC General Insurance Company Limited–to Desjardins- Laurentian Financial Corporation...
Japanese P/C, Life Insurers to Combine Operations
Aug 28 2000 // In what would be a first ever alliance, Japan’s second largest life insurer, Dai-Ichi Mutual Life Insurance, and leading p/c insurer, Yasuda Fire & Marine Insurance Co., have reportedly agreed to combine...
IDC Forecasts Online Insurance Shopping Will Be Next Area of Internet Expansion
Aug 28 2000 // IDC released its market forecast for online sales of personal property and casualty insurance today, predicting the Internet will influence 37% of all premiums purchased in 2004. These findings indicate that despite the...
SAFECO Management Changes, Refocuses
Aug 21 2000 // A lot has been happening up in Seattle-at SAFECO’s headquarters in particular. On Aug. 3, Roger Eigsti, chairman and CEO of SAFECO Corp., announced his retirement, effective Dec. 31, 2000. That same day, Randy...
Fremont General’s 2Q Combined Ratio Hits 259 Percent
Aug 21 2000 // Fremont General Corporation, the nationwide insurance and financial services holding company, posted a combined ratio for second quarter 2000 of 259.0 percent, compared to 95.7 percent reported for second quarter...
Commercial P/C Rates Continue Upward
Aug 16 2000 // Commercial property-casualty rates continued to increase across the country according to a report by The Council of Insurance Agents and Brokers. Through its quarterly Market Index Survey, released today, The Council...
Fremont General Posts $270 Million Quarterly Net Loss, Announces Strategic Reinsurance Plan
Aug 14 2000 // Fremont General Corporation reported a second quarter net loss of $268,073,000 comprised of a net loss from continuing operations of $270,318,000 and an after tax gain on the extinguishment of debt of $2,245,000. The...
Large Carriers Post Positive Second-Quarter Results
Aug 7 2000 // Over the past three weeks, U.S. property/casualty insurers have been busy posting their second-quarter results. With continuing low premium rates and high claims costs, it may look like bad news for the industry as a...
“AA-” Assigned to Unitrin
Aug 7 2000 // “AA-” counterparty credit and financial strength ratings were assigned to the following property/casualty units of Unitrin Inc.: Trinity Universal Ins. Co., Milwaukee Casualty Ins. Co., Milwaukee Safeguard Ins....
Large Carriers Post Positive Second-Quarter Results
Aug 7 2000 // Over the past three weeks, U.S. property/casualty insurers have been busy posting their second-quarter results. With continuing low premium rates and high claims costs, it may look like bad news for the industry as a...
SAFECO CEO to Retire, P/C President Resigns
Aug 3 2000 // Roger Eigsti, chairman and chief executive officer of SAFECO Corp,, today announced his intention to retire effective Dec. 31, 2000. In addition, Randy Stoddard, president of SAFECO Property & Casualty companies,...
