Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Vermont Regulators Issue Bulletin on Price Optimization
Jul 20 2015 // Vermont regulators recently issued a bulletin addressing the issue of price optimization in personal lines ratemaking, warning insurers that adjustments to rates may not be based on non-risk-related factors. The Vermont...
Japanese Insurers Eye More Acquisitions in U.S.
Jul 17 2015 // Japanese insurers including MS&AD Insurance Group Holdings Inc. and Sompo Japan Nipponkoa Insurance Inc. are seeking mergers with peers in the United States, as a declining population at home forces them to pursue...
Chappell Joins Lockton as Property/Casualty COO in Dallas/Ft. Worth
Jul 14 2015 // Insurance broker Lockton has added Jay Chappell in its Dallas/Ft. Worth operations as chief operating officer for its property/casualty business. Chappell will provide leadership and strategic business oversight for client...
P/C Direct Premium Written Up Nearly 4 Percent
Jul 6 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...
Vermont Issues Bulletin on Price Optimization in Personal Lines Ratemaking
Jul 2 2015 // Vermont regulators issued a bulletin last week addressing the issue of “price optimization” in personal lines ratemaking. The Vermont Department of Financial Regulation (DFR) noted in the bulletin that some...
Big ACE-Chubb Deal Triggers ‘Feverish’ Merger Speculation
Jul 1 2015 // Evan Greenberg just took dealmaking to the next level. The chief executive officer of property/casualty insurer ACE Ltd. on Wednesday announced a $28 billion deal for rival Chubb Corp. It’s the biggest acquisition in...
Guy Carpenter Confirms Slowing of Pricing Declines in June Renewals
Jul 1 2015 // Guy Carpenter & Company, LLC, has reported that “after two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June...
ACE to Acquire Chubb in $28.3 Billion Deal
Jul 1 2015 // In a major transaction, ACE Limited has agreed to acquire The Chubb Corp. for $28.3 billion in cash and stock. The two firms said the combined company will have complementary businesses, skills and distribution and greater...
NFP Property & Casualty Acquires Texas’ AutoGroup Services
Jun 25 2015 // Insurance broker and consultant, NFP, has acquired specialty agency AutoGroup Services (AGS), based in Fort Worth, Texas. Founded in 2000, AGS consults with auto dealerships to help maximize the profitability of their...
Oklahoma Mourns P/C Insurance Guaranty Assoc. Manager Fitch
Jun 24 2015 // The Oklahoma Insurance Department reported the loss of Larry W. Fitch, 71, who was the general manager of the Oklahoma Property and Casualty Insurance Guaranty Association. Fitch died on June 19. “Larry has played a...
Main Street America Appoints Root as VP in Florida Headquarters
Jun 24 2015 // Janet Root The Main Street America Group announced Janet Root has been appointed vice president of internal audit at the super-regional property/casualty insurance company. She replaces former internal audit vice president...
Barney & Barney Names Quigley P/C Director in California
Jun 22 2015 // Barney & Barney Insurance Services LLC has named Sam Quigley director of property/casualty. Quigley will work in the firm’s Orange County, Calif. office, where he will focus on building the firm’s presence...
Arthur J. Gallagher to Acquire William Gallagher Associates in Boston
Jun 15 2015 // Arthur J. Gallagher & Co. announced today that it has signed a definitive agreement to acquire substantially all the assets of William Gallagher Associates Insurance Brokers Inc. (WGA), headquartered in Boston,...
USI Acquires First Merchants’ Insurance Brokerage
Jun 15 2015 // USI Insurance Services (USI) has acquired Indiana-based First Merchants Insurance Group, a retail property/casualty and employee benefits insurance brokerage operation, from First Merchants Corp. (First Merchants). This...
UK’s Allianz Commercial Promotes Higham to Property Account Manager
Jun 15 2015 // Allianz Commercial has announced the promotion of Paul Higham to the position of property account manager. Higham’s appointment is the third appointment made in the newly aligned property and casualty team, said the...
EPIC Taps Laney as Broker and Principal in Northern California
Jun 11 2015 // Edgewood Partners Insurance Center has named Brian Laney a property/casualty insurance broker, producer and principal in its Sacramento, Calif. office. Laney will be responsible for new business development and the design...
Dickerson Joins Maryland Insurance Administration as Associate Commissioner
Jun 11 2015 // Maryland Insurance Commissioner Al Redmer, Jr., announced the appointment of Lynn Dickerson as the Maryland Insurance Administration’s (MIA) new associate commissioner, Property and Casualty. Dickerson brings years...
Universal Property & Casualty Insurance OK’d to Write in Michigan
Jun 9 2015 // Florida-based Universal Insurance Holdings Inc. announced that the Michigan Department of Insurance issued a Certificate of Authority to Universal Property & Casualty Insurance Co. (UPCIC), establishing UPCIC as a...
The Academy of Insurance Has a New Look and a New Way to ‘Learn from the Best’
Jun 8 2015 // San Diego, California, June 8, 2015 – The property/casualty insurance online learning center, the Academy of Insurance, unveiled a fresh brand identity along with a new all-access membership program today. Established...
Price Declines Slow on June U.S. Reinsurance Renewals: Guy Carpenter
Jun 5 2015 // After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that...
