Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Retail, Wholesale Agency M&A Activity Brisk in 2015
Feb 8 2016 // When agency consultants at Reagan Consulting hosted more than 150 industry leaders at a workshop on agent/broker mergers and acquisitions (M&A) recently, the mood was upbeat, since many brokers have continued to enjoy...
Narragansett Bay to Write P/C Insurance in Connecticut
Feb 8 2016 // Narragansett Bay Insurance Company (NBIC), a Rhode Island-based specialty underwriter of homeowners insurance products and services in states along the Eastern Seaboard, said the company has been approved by the...
P/C Commercial Rates Fell 4% in January
Feb 5 2016 // Rates for commercial property/casualty insurance fell four percent in the first month of the new year, continuing a downward trend that is unlikely to halt anytime soon, according to Richard Kerr, CEO of...
P/C Insurer Results: Profit Inched Up in First 9 Months of 2015
Feb 5 2016 // Private U.S. property/casualty insurers’ net income after taxes grew to $44.0 billion in the first nine months of 2015 from $37.8 billion in nine-months 2014, with insurers’ overall profitability as measured by...
Michigan Adjusts Insured Claim Caps for P/C Guaranty Association
Feb 4 2016 // The Michigan Department of Insurance and Financial Services has adjusted the insured’s net worth limit and covered claim cap for determining the status of a claim against the state’s Property and Casualty...
Chubb Completes Senior Management Team for European Region
Feb 2 2016 // Chubb has announced a group of appointments with immediate effect, which complete the line-up of its new European leadership team. First, there were the executive appointments that were announced late last year: Andrew...
Moody’s, S&P, A.M. Best Release Ratings for AIG After Strategic Plan Outlined
Jan 28 2016 // American International Group Inc., which activist investor Carl Icahn is pressuring to divest assets, had the outlook on its credit rating changed to negative from stable by Standard & Poor’s after the insurer...
‘Old’ ACE, Chubb Report Q4, Full Year 2015 Results
Jan 27 2016 // Just shy of two weeks after closing on their merger, ACE Ltd. and Chubb Corp. released financial results for their last quarter and year as separate entities. On January 14, 2016, ACE closed on its acquisition of Chubb...
Narragansett Bay Approved to Write P/C Insurance in Connecticut
Jan 27 2016 // Narragansett Bay Insurance Company (NBIC), a Rhode Island-based specialty underwriter of homeowners insurance products and services in states along the Eastern Seaboard, announced that the company has been approved by the...
2015 Cat Bond Activity Down Slightly from Record Levels in 2014: GC Securities
Jan 27 2016 // While property and casualty catastrophe bond primary issuance levels were “uncharacteristically low” in the fourth quarter of 2015, totals at year-end were only slightly lower than the all-time high levels...
AIG CEO Says Future Split Possible, But Downplays SIFI Risk; Will ‘Narrow’ P/C Focus
Jan 26 2016 // American International Group (AIG) CEO Peter Hancock, who announced the sale of the company’s AIG Advisor Group and a partial (19 percent) spin-off of mortgage insurer United Guaranty Corp., said AIG is open to...
XL Catlin Appoints 2 P&C Underwriters in Brazil to Help with Strategic Expansion
Jan 25 2016 // XL Catlin announced it has strengthened its Brazilian team with two appointments. Patricia Britto has joined as property underwriter and Luiz Carlos Dos Santos as senior casualty underwriter – both based in Sao Paulo....
Deal Activity Still Booming
Jan 25 2016 // Deal count for the third quarter of 2015 continued its record breaking pace with 89 announced transactions. Although it was the slowest quarter in 2015 (107 in 1st quarter and 99 in 2nd quarter), it was the most active...
5 Trends Driving Change in Insurance Distribution
Jan 25 2016 // The property and casualty (P/C) industry is in a great position for further growth in the upcoming year. Robust economic recovery along with the entry of new products and services have enhanced the industry’s...
P/C Execs Predict Cyber Growth, Democrat in the White House
Jan 25 2016 // Leaders of the property/casualty insurance industry expect 2016 to be a profitable year much like 2015 but do not see any increase in profitability this year for most lines of insurance, and they expect the economy to stay...
Outlook for U.S. Commercial P/C Insurance Still Negative
Jan 25 2016 // Rating agency A.M. Best said it is maintaining its negative outlook on the commercial lines segment of the U.S. property/casualty industry, despite relatively solid aggregate results over the past several years. The...
Allianz to Buy Aegon’s Commercial P&C Portfolio in the Netherlands
Jan 22 2016 // Allianz has agreed to acquire the commercial P&C portfolio of Aegon in the Netherlands. Details of the transaction were not disclosed. Allianz’s P&C market share in the Netherlands will rise from 4.4 percent...
NFP Names Savage as COO of Midwest P/C Division
Jan 21 2016 // Global insurance broker NFP Corp. has appointed Patrick Savage as chief operating officer (COO) for NFP Property & Casualty, Midwest. Savage will lead operations and finance for NFP Property & Casualty, Midwest and...
Icahn Activism Not AIG’s First Test Under Pressure
Jan 21 2016 // American International Group Inc. knows what it’s like to be circled by hawks. American International Group Inc. knows what it’s like to be circled by hawks. Under pressure in 2009 to repay the insurer’s...
EPIC Taps Rappleye as Producer in California
Jan 20 2016 // Edgewood Partners Insurance Center has hired Cameron Rappleye as a property/casualty insurance broker/producer in the Sacramento, Calif. office. Rappleye will be responsible for new business development and the design and...
