Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Florida Insurers UPC Insurance, American Coastal Insurance Enter Merger Agreement
Aug 18 2016 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, has entered into a merger agreement with RDX Holding, LLC, the parent of American Coastal Insurance Co. (ACIC or American...
Critic Icahn Warms to AIG CEO Hancock’s Plans, Likes $3.4 Billion Deal
Aug 17 2016 // Carl Icahn, who won representation to the board of American International Group Inc. after threatening a proxy battle, said he’s warming to the approach of the insurer’s chief executive officer. ” Peter...
Liberty Mutual & China’s Sanpower Group Form P/C Joint Venture
Aug 16 2016 // Liberty Mutual Insurance and Sanpower Group Co. Ltd., one of China’s leading private enterprises, announced they have agreed to create a joint venture from Liberty Mutual’s current Chinese property/casualty...
Florida-Based UPC Insurance Appoints St. John as Chief Claims Officer
Aug 16 2016 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, appointed Scott St. John as its chief claims officer effective August 22, 2016. St. John will be responsible for directing...
Wells Media Group Names Blosfield Insurance Journal East Editor
Aug 11 2016 // Wells Media Group Inc. recently hired Elizabeth Blosfield as editor for Insurance Journal’s East region. Blosfield has a background in financial reporting, previously serving as a New York-based energy and...
Top 100 Independent Property/Casualty Agencies
Aug 8 2016 // About This Report: Welcome to the 12th annual Insurance Journal Top 100 Independent Property/Casualty Agencies report. The Top 100 list is ranked by total property/casualty agency revenue for 2015 and comprises only...
Robust M&A Deal Activity Continues in Q2 2016
Aug 8 2016 // Merger and acquisition activity was slower in the second quarter of 2016, compared to Q2 2015, but was still above 2012, 2013 and 2014 levels for the same period. In Q2 2016, there were 88 transactions, compared with 119...
Rough Ride for P/C Insurers in 2016, Warns S&P
Aug 8 2016 // This year could be a tough one for U.S. property/casualty insurers, as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by...
Guarantee Co. of North America Names Barclay as Chief Underwriting Officer, P/C
Aug 4 2016 // Toronto-based The Guarantee Company of North America announced that Donna Barclay has been appointed as chief underwriting officer, property/casualty, effective July 25, 2016. Barclay is responsible for ensuring the...
AXA H1 Net Income Rises 4% to $3.6B as L&H Earnings Offset Cat Losses
Aug 3 2016 // AXA SA, France’s biggest insurer, said first-half profit rose 4 percent as increased earnings from life and health insurance helped offset higher claims from natural catastrophes. Net income climbed to 3.2 billion...
CNA Reports Q2 Results with Improved P/C Underwriting
Aug 2 2016 // CNA Financial Corp. reported second quarter 2016 net income of $209 million and net operating income of $201 million. “Overall I am pleased with the result this quarter. Although our International segment had a...
J.M. Wilson Promotes Galecka; Hires Richards and Moloney
Aug 1 2016 // J.M. Wilson, based in Portage, Mich., has promoted Kristy Galecka to senior property/casualty underwriter and garage specialist. Galecka is responsible for quoting new and renewal accounts for a wide variety of commercial...
Climate Change Modeling is Closer than You Think
Jul 28 2016 // For the last few years you got a common response from catastrophe modelers who advise the property/casualty industry when asked about including the effects of climate change in modeling. It went something like: “The...
Willis Towers Watson Launches New Version of Pricing Software Radar 2.0
Jul 28 2016 // Willis Towers Watson has released a new version of its Radar pricing software to enhance support for the growing demand for pricing sophistication from property and casualty (P&C) insurance markets around the...
P/C Insurers Face Tough Sledding in 2016, Warns S&P
Jul 26 2016 // This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by...
Houston International Insurance Group Announces Senior Management Promotions
Jul 25 2016 // Houston International Insurance Group (HIIG) announced senior management promotions for its holding company, property/casualty underwriting operations and other business units. Peter Smith has been promoted to president of...
Universal Property & Casualty Expands Into Alabama Homeowners Market
Jul 25 2016 // Universal Insurance Holdings, Inc. was approved in June by the Alabama Department of Insurance to write homeowners insurance in the state through its subsidiary Universal Property & Casualty Insurance Company (UPCIC)....
Cincinnati Insurance Estimates $160M-$170M in Q2 Storm Losses
Jul 25 2016 // The Cincinnati Insurance Companies’ property/casualty group expects second-quarter catastrophe losses of roughly $160 million to $170 million. That loss amount represents an impact on the second-quarter 2016 combined...
P/C Insurers’ Net Income Fell 26% in Q1
Jul 15 2016 // U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015—a 26.6 percent decline—and their annualized quarterly yield on...
Correction: Obama Nominates Additional Directors But Producer Registry NARAB Still Falls Short
Jul 11 2016 // Correction: The original version of this article omitted two of President Obama’s nominees, Colorado Insurance Commissioner Marguerite Salazar and Susan Louise Castaneda of The Hartford. Insurance Journal regrets the...
