Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
China’s Fosun to Buy Meadowbrook Insurance for $433M
Dec 31 2014 // China investment group Fosun International Limited has agreed to acquire Meadowbrook Insurance Group Inc. of Southfield, Michigan for approximately $433 million, or $8.65 per share in cash. Fosun said that the acquisition...
Report: Texas Insurance Industry Impacts State Economy in a Big Way
Dec 23 2014 // A new study commissioned by group of state and national trade associations shows that the insurance industry — including both the property/casualty and life/health sectors — positively impacts the Texas economy. For...
ACE to Buy Fireman’s Fund Personal Lines; Famous Brand Fading Away
Dec 18 2014 // Allianz Group has agreed to sell the U.S. personal lines business of its Fireman’s Fund unit to ACE for $365 million by means of renewal rights arrangement. The merger of the personal lines business with ACE and the...
UPC Insurance to Acquire Family Security Holdings
Dec 16 2014 // United Insurance Holdings Corp. (UPC Insurance) said it plans to acquire Family Security Holdings LLC for $9 million. The transaction is expected to close by Jan. 31, 2015. FSH is an insurance holding company with two...
Carrier Management, Insurance Journal Win Folio Media Awards
Dec 15 2014 // Wells Media Group’s newest publication for property/casualty insurance industry, Carrier Management, is making its mark in the publishing world, garnering three honors at last week’s 2014 Eddie and Ozzie...
When P/C Insurance Carriers Can Cancel: Mid-term Cancellation Provisions by State
Dec 15 2014 // Even after the underwriting period has ended, insurance carriers have the opportunity to cancel a property/casualty insurance policy prior to the renewal. However, the reasons insurance carriers are allowed to use to...
P/C Direct Premium Written Up 4.6 Percent
Dec 15 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record-high for the industry. For 2013, total DPW for all...
The Spirit of Life: P/C Insurance Industry Helps Find a Cure for Cancer
Dec 15 2014 // The past year will be remembered as a special year for the City of Hope and its insurance industry supporters. The industry, which has been supporting the cancer treatment and research center for 36 years, broke all...
Florida Approves Another Round of Citizens Takeouts
Dec 9 2014 // The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 132,441 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corp. as part of the...
Moody’s to P/C Insurers: Beware Weather, Competition in Months Ahead
Dec 3 2014 // U.S. property/casualty insurers can celebrate higher overall earnings and premium levels in the 2014 third quarter versus the same period a year ago, Moody’s Investors Service said in a new report. At the same time,...
World’s Top 15 Commercial Lines Brokers Write 43% of Business: Finaccord
Dec 1 2014 // The world’s top 15 insurance brokers write more than 43 percent of the commercial lines property/casualty business globally, according to a new ranking by London research firm Finaccord. The same report says that the...
Small Business Insurance Market Primed for Consolidation
Dec 1 2014 // If heavy competition breeds consolidation, then the property/casualty small business insurance market is ripe for it in the coming years. Both large and small insurers devote lots of attention to the space, but no single...
2014 State Specialist P/C Insurers Revealed
Dec 1 2014 // The Demotech Company Classification System categorizes insurers into one of 11 categories based on an analysis of data reported by the companies to the National Association of Insurance Commissioners (NAIC). The 11...
Program Market a Target for Expansion, Good & Bad
Dec 1 2014 // Market Outpacing Overall P/C Industry The program insurance business market enjoyed its third consecutive year of growth in 2013 and appears on track to continue its expansion. However, while program business is attracting...
When P/C Insurance Carriers Can Cancel: The ‘Underwriting Period’ by State
Nov 21 2014 // Every state extends insurance carriers the right to cancel a newly-written policy during the first days of the policy period. This is commonly known as the new policy “underwriting period.” An underwriting...
Small Business Insurance Market Primed for Consolidation
Nov 18 2014 // If heavy competition breeds consolidation, then the property/casualty small business insurance market is ripe for it in the coming years. Both large and small insurers devote lots of attention to the space, but no single...
Large Agencies More Optimistic About Future Growth: Study
Nov 17 2014 // Optimism over the future growth potential of independent agencies ties closely to the size of the independent agency, with larger agencies feeling more optimistic about future growth than their smaller counterparts,...
Top 50 Personal Lines Leaders
Nov 17 2014 // About the Personal Lines Leaders: The 2014 Personal Lines Leaders in this special feature are taken from Insurance Journal‘s Top 100 Property/Casualty Independent Agencies as reported in August. This list utilizes...
World’s Top 15 Commercial Lines Brokers Write 43% of Business: Finaccord
Nov 12 2014 // The world’s top 15 insurance brokers write more than 43 percent of the commercial lines property/casualty business globally, according to a new ranking by London research firm Finaccord. The same report says that the...
Berkshire Nearly Quadruples Insurance Profits; Boosts Premiums 50%
Nov 11 2014 // While investment losses pulled net income for Warren Buffett’s Berkshire-Hathaway down 8.6 percent to $3.6 billion in third-quarter 2014, a 40 percent jump in operating income for the group’s insurance and...
