Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Direct Premium Written Up Nearly 4.7 Percent
Nov 16 2015 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2014, more than $570 billion of DPW was reported, a record high for the industry. For 2014, total...
Top 10 Market Conduct Actions Against P/C Insurers
Nov 16 2015 // Slow claim handling, the use of unapproved rates and a failure to provide required compliant disclosures top the list of market conduct actions taken against U.S. property/casualty insurers in 2014, according to Wolters...
Everest Re Adds Inland Marine Unit to U.S. Specialty Platform
Nov 13 2015 // Everest Re Group, Ltd., has expanded its U.S. specialty insurance platform, Everest National Insurance Co., with the introduction of a new dedicated Inland Marine underwriting team. Everest National is pursuing a broad and...
Brinck Insurance Group Hires Burns for Aviation, P/C Expertise
Nov 12 2015 // Brinck Insurance Group in Springfield, Mo., has hired Roni Burns as the company’s newest agent. Burns, who is a private pilot, will specialize in aviation insurance as well as property and casualty insurance. Prior...
Kingstone Approved to Write P/C Insurance in New Jersey
Nov 10 2015 // Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in New Jersey...
AXA to Buy Charter Ping An in Philippines, Eyeing P&C Growth Opportunities
Nov 9 2015 // AXA Philippines announced it will acquire 100 percent of Charter Ping An Insurance Corp. from GT Capital for 45 million euros ($48.3 million). The acquisition will enable AXA Philippines to offer property & casualty...
Zurich to Cut 440 Jobs at U.K. P&C Insurance Unit as Part of Cost-Cutting Program
Nov 9 2015 // Zurich Insurance Group AG plans to cut 440 jobs at its U.K. general insurance unit as part of a cost- cutting program. Zurich is also seeking to simplify its organizational structure, the company said in a statement to...
Independent Agency Profitability, Organic Growth Dipped in Q3: Reagan Consulting
Nov 6 2015 // Independent insurance agents and brokers posted median organic growth of 4.4 percent for the third quarter of 2015, compared with 6.0 percent in the third quarter of 2014, as measured by the Reagan Consulting Organic...
Allianz’ Q3 Profit Down 15% as Earnings Decline at P&C, Asset Management Units
Nov 6 2015 // Allianz SE, Europe’s biggest insurer, said third-quarter profit dropped 15 percent as earnings at its property and casualty and asset management units declined. Net income fell to 1.36 billion euros ($1.48 billion)...
Top 10 Market Conduct Actions Against P/C Insurers
Nov 5 2015 // Slow claim handling, the use of unapproved rates and a failure to provide required compliant disclosures top the list of market conduct actions taken against U.S. property and casualty insurers in 2014, according to...
As Activist Investors Circle, AIG Posts Q3 Loss; Plans to Cut 400 Jobs
Nov 2 2015 // American International Group Inc., the insurer facing pressure from activist shareholder Carl Icahn for a breakup, posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400...
Lloyd’s China, Tokio Marine Kiln & PICC Sign Intellectual Property Liability Deal
Oct 30 2015 // Lloyd’s China, Tokio Marine Kiln and People’s Insurance Company of China Property and Casualty Company (PICC P&C) signed a memorandum of understanding (MoU) to provide intellectual property infringement...
Swiss Re’s 1st 9 Months 2015 Consolidated Net Income up 12% at $3.659 Billion
Oct 29 2015 // Swiss Re reported consolidated net income of $3.659 billion, a 12 percent increase, for the first nine months of 2015, compared to $3.255 billion for the first 9 months of 2014. $1.399 billion was earned in the third...
XL’s Q3 Operating Net Income Down to $70.8M on Integration Costs, Cat Losses
Oct 27 2015 // Dublin-headquartered XL Group reported third quarter operating net income of $70.8 million, or $0.23 per share, down from $187.1 million, or $0.70 per share, in the prior year quarter. The current quarter’s results...
ACE Q3 2015 Net Income Down 32.7% at $528 Million; Operating Income Up
Oct 22 2015 // ACE Group reported net income for the quarter ended September 30, 2015, of $1.62 per share, compared with $2.32 per share for the Q3 2014, an overall decline of 32.7 percent from $785 million in Q3 2014 to $528 million....
Kingstone Approved to Write P/C Insurance in Connecticut
Oct 21 2015 // Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, today announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in...
P/C Insurers Posted $31B Profit for 2015 1st Half, Highest 1st-Half Income Since ’07
Oct 21 2015 // Private U.S. property/casualty insurers’ net income after taxes grew to $31.0 billion in the first half of 2015 from $26.0 billion in the first half of 2014, according to a report today from Verisk Analytics’...
K&K to Partner with Producers to Provide New Program Business Markets
Oct 21 2015 // K&K Insurance Group, Inc., a subsidiary of Aon plc, is now accepting property and casualty program business from producers. K&K has provided property and casualty program options for more than 60 years,...
Oswald Companies Names Hedrick as P/C Client Experience Leader in Cincinnati
Oct 21 2015 // The Cleveland, Ohio-based independent insurance brokerage, Oswald Companies, has appointed Jim Hedrick to client experience leader, Property and Casualty. He will be based at the Cincinnati branch of Oswald and serve all...
