Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Drone Segment Will be Biggest Growth in Aviation Insurance in 50 Years, Experts Say
Feb 22 2018 // Now’s the time to get in on the ground floor of the business of insuring drones. That’s according to panel of experts speaking recently in a drone insurance webinar hosted by Insurance Journal. The consensus...
Insurance Industry Hiring Stabilizes; Key Jobs Remain Difficult to Fill: Study
Feb 20 2018 // Fifty-eight percent of insurance companies plan to increase staff during the next 12 months in part due to expected increase in business and new markets, according to the Semi-Annual U.S. Insurance Labor Outlook Study...
Kemper Corp. Acquires Infinity Property & Casualty of Alabama for $1.4B
Feb 20 2018 // Birmingham, Ala.-based Infinity Property and Casualty were bought for $1.4 billion. Kemper Corp. acquired the auto insurance provider in a cash and stock transaction, making it one of the largest nonstandard auto insurers...
Satisfied Independent Agents Are Growth Engines for P/C Carriers: J.D. Power
Feb 19 2018 // Despite the growth of both technology-based and direct-to-customer sales channels in the property/casualty (P/C) insurance industry, independent agents still control the lion’s share of P/C premiums and represent a...
P/C Direct Premium Written Up 4.7 Percent
Feb 19 2018 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2016, approximately $606 billion of DPW was reported, a record high for the industry. For 2016,...
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Feb 19 2018 // Optisure Risk Partners, based in Manchester, N.H., has hired Reid Sterrett as life practice manager, reporting to Optisure CEO Peter R. Milnes. Sterrett will be based in Hartford, Conn., and has experience in life,...
