Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Worldwide Broker Network Names Gambonini as Global P/C Consultant
Jan 31 2018 // The Worldwide Broker Network (WBN) announced the appointment of Antoinette “Toni” Gambonini as global property & casualty consultant. In this role, Gambonini will work with WBN member companies on six...
Alfa Names Chancey P/C Insurance Operations Chief
Jan 31 2018 // Alfa Insurance has promoted Beth Chancey to senior vice president of the company’s Property & Casualty Operations effective Feb. 1. She will be responsible for P/C underwriting, actuarial services, billing and...
Chubb Records Solid Q4 and Year Despite Catastrophe Losses
Jan 31 2018 // Chubb had a solid last quarter of 2017 and year even though challenged by wildfire and other catastrophe costs. Fourth quarter results were enhanced by a one-time gain from the Trump tax cuts. The insurer booked $1.5...
Alfa Insurance of Alabama Announces Retirement of EVP Rutledge
Jan 30 2018 // Alabama-based Alfa Insurance’s Executive Vice President of Operations Steve Rutledge will retire Feb. 1 after 33 years of service with the company. Rutledge began his career with Alfa in 1984 as a securities analyst...
After Catastrophes, ‘Pricing Complacency,’ P/C Insurers Face Real Test in 2018: S&P
Jan 29 2018 // While the U.S. property/casualty insurance sector passed the capital test in 2017, a year with record catastrophe losses, insurers will face the real test in 2018 if catastrophe losses come close to last year’s...
Satisfied Independent Agents Are Growth Engines for P/C Carriers: J.D. Power
Jan 26 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...
Sanders Joins Kemper Corp. from Travelers as President of P/C Division
Jan 25 2018 // Duane Sanders has joined Chicago-based Kemper Corp. as president of its Property & Casualty Division. Sanders will report to Kemper President and Chief Executive Officer Joseph P. Lacher Jr. and will be based in...
P/C Insurers’ Bottom Line Should Benefit from Trump Tax Cut
Jan 25 2018 // Federal tax reform was a big topic of discussion at the Insurance Information Institute’s 2018 P/C Joint Industry Forum, with panelist Jay Gelb of Barclays Capital stating the recently passed tax law is going to be...
AXIS Capital Restructures to Focus More on Tech & Innovation
Jan 24 2018 // AXIS Capital Holdings is reorganizing its operations in a bid to focus more on technology and innovation, with an eye on long-term profitable growth. Executives hope to put the new changes in place during the 2018 second...
EPIC Adds Westphal in California Healthcare Practice
Jan 23 2018 // EPIC Insurance Brokers and Consultants has added Philip Westphal to its commercial property/casualty team in Sacramento, Calif., as a risk advisor/broker in the healthcare practice. Westphal will report to Tom McCready,...
Liberty Mutual Sells Off Life Insurance Unit, Realigns U.S., Global P/C Business
Jan 23 2018 // Liberty Mutual is getting out of the life insurance business, and the insurer will reorganize in order to better focus on its remaining P/C businesses. The Boston-based global insurer said it will sell its life insurance...
Regions Insurance Taps Breedlove to Lead Property & Casualty Operations from Georgia
Jan 23 2018 // Regions Insurance, an affiliate of Regions Bank, has named Mike Breedlove executive vice president of Property & Casualty Operations. Breedlove will be responsible for leading the company’s property &...
What Government Shutdown Means for P/C Insurance Industry
Jan 22 2018 // The property/casualty insurance industry is not immune to any economic effects the federal government shutdown may bring but since the industry is largely regulated by the states, not Washington, the impact on the industry...
U.S. Reinsurance Outlook Remains Negative for 2018, Says A.M. Best
Jan 22 2018 // Ratings firm A.M. Best said it is maintaining its 2018 outlook for the U.S. property/casualty reinsurance sector at negative, citing the “pronounced pressure on U.S. property catastrophe rates as the alternative...
People
Jan 22 2018 // Anna Alexopoulos Farrar has joined the Florida Department of Financial Services (DFS) as Communications director, according to a statement by Chief Financial Officer Jimmy Patronis. In this capacity, she will oversee the...
Commercial Automobile Remains Sore Spot in P/C: A.M. Best
Jan 19 2018 // The performance of the commercial automobile segment continued to deteriorate through third quarter 2017, according to a new A.M. Best report. Commercial auto has been a sore spot in the property/casualty for several...
Insurance Agency M&As Soared 31% in 2017: OPTIS
Jan 18 2018 // Mergers and acquisitions of insurance agencies last year broke all records in 2017, according to OPTIS Partners’ annual report. The OPTIS database recorded 604 deals in the United States and Canada in 2017, a 31...
Change at Top at AmWINS: Purviance to Take Over DeCarlo’s CEO Role
Jan 17 2018 // Charlotte-based global wholesale broker AmWINS Group announced that Scott M. Purviance will succeed M. Steven DeCarlo as the company’s chief executive officer, effective May 1, 2018. DeCarlo, who has served as CEO of...
Alera Group Acquires New Jersey’s FIRM Inc.
Jan 17 2018 // Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired FIRM Inc., an insurance agency located in Mahwah, N.J. Terms of the transaction were not...
J.M. Wilson Adds James as Assistant Property/Casualty Underwriter in Ohio
Jan 12 2018 // J.M. Wilson has hired Taylor James as assistant property/casualty underwriter in its Westerville, Ohio, office. James is responsible for assisting underwriters on a wide variety of property and casualty risks, as well as...
