Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Texas Moves to Liquidate Non-Standard Auto Insurer, Access
Mar 19 2018 // Texas insurance regulators placed into receivership and started the process of liquidating a Texas-domiciled/Atlanta, Georgia-headquartered property/casualty insurance company that the insurance department says is...
Agent-Inspired Insurtechs ‘Self-Disrupt’ Small Commercial Lines
Mar 19 2018 // Insurance industry technology is experiencing a revolution. While insurance carriers and venture capital firms have been behind much of today’s insurtech innovation, insurance agents and brokers have also jumped into...
Milliman Adds Property and Casualty Team to Tampa Office, Taps Rollins to Lead
Mar 16 2018 // Milliman Inc., a global consulting and actuarial firm, has added a property and casualty team to its Tampa, Fla., office in response to the growing demand for the firm’s property insurance analytics. It has tapped...
Alliant Hires Former New Jersey State Senator Beck
Mar 13 2018 // Alliant has added former New Jersey State Senator Jennifer Beck to its regional brokerage team. As vice president, Beck will provide insurance and risk management services to organizations across the Garden State. Beck...
Seeman Holtz Property & Casualty Acquires Self Insurance in Missouri
Mar 8 2018 // Seeman Holtz Property & Casualty Inc., headquartered in Boca Raton, Florida, has acquired a Sikeston, Missouri-based agency, Tri-Star of Sikeston Inc., doing business as Self Insurance. Now led by Brian Self, the...
Tax Law Will Benefit U.S. P/C Insurers, Says Moody’s
Mar 7 2018 // The impact of the new U.S. tax law is credit positive for U.S.-based insurance companies, which will boost profitability for many of these firms, particularly those that have been paying high effective tax rates. The Trump...
Alliant Acquires Hecht & Hecht’s P/C Operations in Oregon
Mar 5 2018 // Alliant Insurance Services Inc. has acquired Portland, Ore.-based Hecht & Hecht’s property/casualty insurance services. The deal will bring Hecht & Hecth’s P/C insurance services under the Alliant...
XL Group CEO McGavick Comments on Firm’s Agreed Purchase by France’s AXA
Mar 5 2018 // XL Group’s CEO Mike McGavick has issued the following statement to clients and brokers in response to today’s announcement that XL has entered into an agreement to be acquired by French insurer AXA. Dear Valued...
BIB Appoints Szalkay to Continue Southern Expansion
Mar 5 2018 // Boston Insurance Brokerage LLC (BIB), a national wholesale specialty insurance agency headquartered in Boston, has added Jennifer Szalkay as vice president of Property & Casualty Division. In this role, Szalkay assumes...
People
Mar 5 2018 // Integro Insurance Brokers has named Jacquelyn Neal as a principal in the marine practice. Neal is based in the San Francisco, Calif., office. She will manage a book of existing marine clients and develop new cargo and...
5 Strategies for Success in Small Business Market
Mar 5 2018 // The small business market is big. The U.S. small commercial market represents about one-third of the total commercial lines market and generates between $99 billion and $103 billion in direct written premium, according to...
NFP Focusing on Organic Growth in Central Texas Expansion
Mar 5 2018 // Employee benefits and property/casualty insurance broker and consultant NFP traditionally has grown through acquisitions but as the global organization targets Central Texas for expansion it plans to use another strategy...
People
Mar 5 2018 // St. Louis, Missouri-based Safety National Casualty Corp. announced management changes that are effective April 1, 2018. Gene Maier, executive vice president and chief underwriting officer, is retiring. During his 33-year...
People
Mar 5 2018 // The Main Street America Group, a super-regional property/casualty insurance company, has promoted Darryl Osman to vice president of personal lines. Osman remains based at the company’s home office in Jacksonville,...
France’s AXA to Acquire P/C Insurer XL Group for $15.3 Billion
Mar 4 2018 // AXA SA agreed to buy XL Group Ltd. for $15.3 billion in cash, seeking to capture a bigger slice of the U.S. property and casualty market as premiums rise after last year’s natural disasters. The French insurer is...
Kearns Appointed President of Virginia’s Berkley Mid-Atlantic Group
Mar 2 2018 // W. R. Berkley Corporation has appointed John F. Kearns as president of Berkley Mid-Atlantic Group, a Glen Allen, Va.-headquartered Berkley Company (BMAG). Kearns succeeds Susan N. Grady, who remains a member of the Berkley...
Liberty Mutual Net Income Fell in 2017 Due to Catastrophes, Commercial Auto, Taxes
Feb 28 2018 // Liberty Mutual reported $17 million in net income for 2017, down substantially from more than $1 billion in 2016. The insurer pointed to catastrophe losses, adverse development in its commercial automobile business and a...
Zurich Acquires QBE’s Latin American Operations for US$409M
Feb 26 2018 // Zurich Insurance Group has entered into an agreement to acquire the Latin American operations of Australian insurer QBE Insurance Group Ltd. for a total aggregate price of US$409 million, subject to closing...
Berkshire’s 14-Year Insurance Win Streak Comes to an End
Feb 26 2018 // Warren Buffett’s Berkshire Hathaway’s combination of insurance entities have recorded 14 consecutive years of underwriting profit worth more than $28 billion. The Oracle from Omaha has repeatedly warned his...
CEO Says Swiss Re Open to Anchor Shareholder Following Softbank Inquiry
Feb 23 2018 // Swiss Re AG’s chief said the reinsurer would welcome an anchor investor after being approached by billionaire Masayoshi Son’s SoftBank Group Corp. In a business where results can change radically from one year...
