Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Marsh & McLennan Acquires Nuwest Insurance Services in California
Nov 7 2014 // Marsh & McLennan Agency LLC has acquired NuWest Insurance Services Inc., an Irvine, Calif.-based property/casualty agency. NuWest generates roughly $2.4 million in revenue and specializes in providing P/C insurance...
Allianz Reports 11.2% Hike in Net Income During Third Quarter
Nov 7 2014 // During the third quarter of 2014, Allianz Group reported total quarterly revenues increased 14.5 percent to 28.78 billion euros*, compared to 25.14 billion euros in the third quarter of 2013. Operating profit stood at 2.65...
China’s Ping An Gets Approval to Raise Capital in Hong Kong Share Sale
Nov 7 2014 // Ping An Insurance (Group) Co., China’s second-largest insurer, won regulatory approval for a private placement that may amount to as much as $5 billion, Hong Kong’s biggest share sale in almost two years. The...
Swiss Re Net Income Rises 14%, Supported by Lower Catastrophe Losses
Nov 7 2014 // Swiss Re AG, the world’s second- biggest reinsurer, said third-quarter profit rose 14 percent, beating analysts’ estimates, following lower-than-expected losses from natural catastrophes. Net income rose to...
Canadian P&C Insurer Intact Financial’s 3rd Quarter Profit Rises
Nov 5 2014 // Intact Financial Corp., Canada’s largest property and casualty insurer, reported a more than four-fold rise in quarterly profit, helped by a sharp fall in catastrophe losses. The company’s profit last year was...
China’s PICC P&C Plans $1.2 Billion Rights Offer
Nov 5 2014 // PICC Property & Casualty Co., China’s biggest non-life insurer, said it plans to raise 7.25 billion yuan ($1.2 billion) in a rights offer in Hong Kong and China to replenish capital. The shares dropped. The...
MyPath Portal: Can It Lure Millennials to Insurance Careers?
Nov 3 2014 // With the insurance industry employee base rapidly aging and retiring, a number of companies and organizations in the field have come up with something that they hope will draw more young adults into the sector. Their...
Program Business Market Grew 9.8% in 2013: TMPAA
Nov 2 2014 // Commercial property/casualty insurance program administrators outperformed the overall property/casualty insurance market last year. Program business premium revenues increased by 9.8 percent, reaching $30.1 billion in...
Regulator Takes Focus on Climate Change Preparedness
Oct 30 2014 // With a calm demeanor and in a somewhat scientific tone he doesn’t mind using while explaining his stance on something, Mike Kreidler stood by his decision to call out the insurance industry and the rest of the...
Anchor P&C Is Newest Florida Homeowners Insurance Carrier
Oct 30 2014 // Anchor Property and Casualty Insurance Co. became licensed by the Florida Office of Insurance Regulation (OIR) on Oct. 28 to write homeowners insurance business in the state. At the same time, the company has been approved...
Florida Approves Up to 183K Takeouts from Citizens for 2015
Oct 30 2014 // The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 180,040 personal residential policies and 2,527 commercial residential polices from Citizens Property Insurance Corp. The OIR said these...
Universal Property & Casualty Insurance Licensed in Indiana
Oct 29 2014 // Universal Insurance Holdings Inc. announced that its subsidiary, Universal Property & Casualty Insurance Company (UPCIC), has been approved as a licensed insurance entity in Indiana. UPCIC expects to file its...
The Hartford Profit Up 32% in Q3
Oct 29 2014 // The Hartford reported third quarter 2014 net income totaled $388 million, up 32 percent from $293 million in third quarter 2013. The insurer said core earnings were $477 million for the three months ended Sept. 30, 2014,...
Stratton Promoted to Property/Casualty Underwriter at J.M. Wilson
Oct 28 2014 // J.M. Wilson has promoted Kristy Stratton to property/casualty underwriter in its Portage, Mich., office. She is responsible for quoting new and renewal accounts for a wide variety of commercial property and casualty risks,...
Top 10 Market Conduct Issues for P/C Insurers
Oct 28 2014 // A review of state insurance regulators’ examinations of U.S. property/casualty insurers shows that claims-handling, underwriting and producer requirements continue to be the top criticisms. According to compliance...
XL North America P/C Names Nadeau As Chief Operating Officer
Oct 24 2014 // XL Group’s North America Property & Casualty (NAPC) insurance business has promoted Donna Nadeau to the position of chief operating office, reporting to Joe Tocco, NAPC chief executive. Nadeau previously served...
MyPath Portal Aims to Attract Millennials to Insurance Careers
Oct 23 2014 // With the insurance industry employee base rapidly aging and retiring, a number of companies and organizations in the field have come up with something that they hope will draw more young adults into the sector. Their...
Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’
Oct 22 2014 // A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the...
Eight P&C Insurers Get Top Marks for Climate Change Risk Management
Oct 22 2014 // Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and...
P/C Insurers’ Reserves Redundancy to Continue: Moody’s
Oct 20 2014 // U.S. property/casualty insurers’ reserves will remain moderately redundant through the end of the year, Moody’s Investors Service has reported. “We expect moderately redundant reserves based on ongoing...
