Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P&C People: XS Brokers Expands with Geiss, Kentucky Agents Name New EVP
Jan 10 2024 // The underwriting and wholesale brokerage group known as XS Brokers is expanding into the Southeast and has named Adam Geiss as vice president, based in Charlotte, North Carolina. “Charlotte, a vibrant and growing...
P/C Insurers Responsible for Nearly 7,000 Layoffs in 2023
Jan 3 2024 // U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, cutting at least 6,800 jobs,...
Dyad Brand Launches to the P/C Insurance Market
Jan 2 2024 // Dyad, Inc., formerly XDimensional Technologies and I-Engineering, a provider of insurance software and services backed by Serent Capital, has launched today following XDimensional Technologies’ acquisition of...
US P/C Industry Turns in $32.2B Underwriting Loss After 9 Months
Dec 8 2023 // U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion. The result, highlighted in short financial review from AM Best, is $7.6 billion worse than the same...
AM Best Maintains Stable Outlook for U.S. Property/Casualty Commercial Lines
Dec 6 2023 // Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its “stable” outlook for...
P/C Insurers Face Challenging Claims Dynamics as Frequency, Severity Rise: Swiss Re
Nov 28 2023 // The property/casualty insurance industry is confronting challenging claims dynamics, with rising frequency and severity of claims despite decreases in economic inflation, according to Swiss Re. The pace of claims growth in...
AM Best: Number of P/C Gross Impairments Falls in 2022; No Net Impairments
Nov 22 2023 // Despite the reversal seen in the U.S. equity market and rising inflation and interest rates, property/casualty insurers performed well in 2022, according to the latest report on the long-term impairment rates of...
NAMIC Webinar Recap: Solving for Producer Compliance in Property & Casualty Insurance
Nov 9 2023 // This post is part of a series sponsored by AgentSync. Insights from NAMIC’s compliance webinar presented by AgentSync Solutions Architect Sandy Allen Did you know there were more than 250 changes to insurance...
Despite Hard Market, P/C Combined Ratio Forecast Near 104 for 2023
Nov 6 2023 // Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance...
South Florida P/C Insurance Agent Charged With Swiping $131,000 in Premiums
Nov 2 2023 // A south Florida insurance agent has been charged with absconding with more than $130,000 in premiums, leaving property owners uninsured after Hurricane Ian. Naser Al-Sweity, of Boca Raton, was booked into Palm Beach County...
People Moves: NFP Appoints McSherry to Lead Atlantic Region P&C
Oct 31 2023 // McSherry NFP, a property-casualty insurance broker headquartered in New York, N.Y., hired Meg McSherry to lead the property and casualty business in its Atlantic region. McSherry will support new business and client...
People Moves: Fawcett Named Maryland Associate Commissioner for P&C
Oct 18 2023 // Fawcett Named Maryland Associate Commissioner for Property/Casualty Maryland Insurance Commissioner Kathleen A. Birrane has appointed William Fawcett as associate commissioner for property and casualty for the Maryland...
Down, Down, Down….AM Best P/C Downgrades Outpacing Upgrades
Oct 17 2023 // The number of rated property/casualty personal lines insurers that had their credit ratings downgraded by AM Best more than doubled to 21 in the first-half of 2023, compared to 10 in first-half 2022. Additional downgrades...
Rising Claims Costs Limit US P/C Profitability in 2023: Swiss Re
Oct 16 2023 // While the profitability outlook for the U.S. P/C industry this year is mixed, Swiss Re predicts a stronger year in 2024, as premium increases and interest rates improve industry results. According to the U.S. Property...
First-Half P/C Underwriting Loss Just $2B Shy of Loss for All of 2022
Oct 2 2023 // The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to AM Best. Catastrophe...
Rising Claims Costs Limit US P/C Profitability in 2023
Sep 27 2023 // While the profitability outlook for the U.S. P/C industry this year is mixed, Swiss Re predicts a stronger year in 2024, as premium increases and interest rates improve industry results. According to the U.S. Property...
First-Half P/C Underwriting Loss Just $2B Shy of Loss for All of 2022
Sep 12 2023 // The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to a new AM Best...
P/C Insurers Set to Significantly Improve Profitability Even as Claims Rise: Study
Sep 11 2023 // Non-life insurers are set to significantly improve their profitability in the next few years as investment returns from higher rates cushion a hit from a rise in claims, a report by Swiss Re Institute showed on...
People Moves: Encova Names Mabe to Board of Directors; JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager
Sep 7 2023 // JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager JM Wilson has promoted Kristin Bolhuis to assistant property & casualty manager in their Portage, Michigan office. Bolhuis’ responsibilities...
E&S Market Lines Expand, Outperform Broader P/C in 2022
Sep 6 2023 // The U.S. excess and surplus (E&S) lines market had a good year in 2022, growing to account for nearly 9% of the U.S. property/casualty (P/C) insurance industry. E&S direct written premiums (DWP) increased for the...
