Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Chubb Net Income Up 79% in Q2; P/C Combined Ratio at 88
Jul 26 2017 // Chubb Limited reported net income for the second quarter ended June 30 of $1,305 million compared with $726 million for the same quarter last year‚ a 79 percent increase. Operating income was $1,180 million compared with...
Markel to Acquire State National for $919 Million
Jul 26 2017 // Markel Corp. will acquire Texas-based State National Companies Inc. for $919 million, a deal that the Virginia-based insurer and reinsurer said will help diversify its underwriting and revenue streams. Both...
G.F.H. Insurance Acquires Peyton, Cheely and Woodle Insurance in Virginia
Jul 25 2017 // G.F.H. Insurance Agency Inc., a Richmond, Va.-headquartered insurance broker, has acquired Peyton, Cheely and Woodle Insurance of Richmond, Va., effective June 12, 2017. Terms of the acquisition were not disclosed. Peyton,...
Q2 Insurtech Funding Rises to $1B: Willis Towers Watson/CB Insights Report
Jul 24 2017 // Insurtech funding volume hovered close to $1 billion in the 2017 second quarter, a result nearly 150 percent larger than the same period a year ago, according to a quarterly report on the sector from Willis Towers Watson...
‘Specialize and Diversify,’ Industry Veteran Markel Tells Super Regional Insurers
Jul 21 2017 // Insurance is a very simple business. “You take in some money, you spend some money and you lose some money, and God willing, you have some left at the end of the day,” according to Anthony (Tony) Markel, vice...
People
Jul 10 2017 // Kansas City-based insurance broker Lockton has named Jeff Henningsen as president of its Houston property/casualty insurance operation. Henningsen will take on an expanded leadership role in business development for the...
State of P/C Insurance Industry, Part 1: The Fate of ‘Hard Market’ Agencies (and Companies)
Jul 10 2017 // Property/casualty (P/C) insurance and group benefits industry is changing faster than ever. Many factors are the parents of such change. In part one of this two part series, I will focus on the more traditional aspects and...
People
Jul 10 2017 // The Main Street America Group has promoted Dan Gaynor to senior vice president and chief underwriting officer. Gaynor, who has been the super-regional property/casualty insurance company’s vice president of...
People
Jul 10 2017 // Alan Jay Kaufman, chairman, president and CEO of Detroit/Farmington Hills, Michigan-based H.W. Kaufman Financial Group, has joined the School of Risk Management, Insurance and Actuarial Science board of overseers at the...
People
Jul 10 2017 // San Francisco, Calif.-based Metromile has named Carrie Dolan chief financial officer. Dolan most recently served as CFO of Lending Club, an online credit marketplace connecting borrowers and investors. Prior to Lending...
Burand’s State of P/C Insurance Industry Part 2: How to Pick Winners as More Carriers Consolidate or Waste Away
Jul 9 2017 // Editor’s Note: This is the second of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s...
How Consumers Pay Their Insurance Bills: Aite Group
Jul 5 2017 // Aite Group study finds that on average consumers will pay their auto insurance eight times per year and their property insurance five times a year. The Aite Group report, P&C Insurance: How Consumers Pay Their Bills,...
Increase in P/C Insurers’ Losses in 2017 Will Again Be Driven by Auto: S&P
Jun 29 2017 // Private auto net incurred losses will increase by nearly 7 percent in 2017 to a new record of approximately $154 billion, reflecting elevated volume and costs of claims, according to a new S&P Global market...
Partner Re’s CEO of P&C Walker, Chief Risk & Actuarial Officer Pestcoe to Retire
Jun 29 2017 // PartnerRe Ltd. announced that Tad Walker, CEO Property & Casualty, and Marvin Pestcoe, chief risk and actuarial officer, will both retire from the company at the end of the first quarter of 2018. PartnerRe is...
NFP Acquires International Insurance Group in Arizona
Jun 28 2017 // NFP Corp. has acquired Flagstaff, Ariz.-based International Insurance Group Inc. Nate Watson, chief operating officer of IIG, will join as managing director of NFP’s property/casualty business and report directly to...
London-Based Ed Taps Gallagher’s Blacker as Managing Director of P/C
Jun 28 2017 // Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of James Blacker as managing director of property and casualty. Blacker will take up his role in December and report to Chris...
P/C Insurers’ Net Income Fell 42.2% in Q1; Catastrophe Losses Topped $7 Billion
Jun 27 2017 // The U.S. property/casualty insurance industry saw its net income fall to $7.7 billion in first-quarter 2017 from $13.4 billion in first-quarter 2016, a 42.2 percent decline. Also, its overall profitability as measured by...
Powered by Homegrown Insurtech, HCI to Expand Flood Insurance Sales to 9 States
Jun 26 2017 // As Congress tries to figure out how to change the federal flood insurance program to encourage more private insurer involvement, one insurer isn’t waiting to wade deeper into the private flood insurance business....
Cyber Insurance Premium Volume Grew 35% to $1.3 Billion in 2016
Jun 23 2017 // Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest cyber insurance writers...
U.S. P/C Insurance Industry Keeps Quiet on Trump Exit from Paris Climate Accord
Jun 19 2017 // The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the...
