Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Viewpoint: Four Approaches to Expand Commercial P/C’s Market Relevance
Feb 22 2023 // Despite a range of disruptions, global commercial P/C insurance carriers have actually delivered good returns over the last few years—mostly thanks to higher premiums, which have risen 6 to 8 percent a year since 2018....
People Moves: Swiss Re Promotes Ningen to CEO, US P&C Re; MS Reinsurance Hires 4 for Data, Underwriting; Aon Promotes Day, Dickson in Political Violence & Terrorism Team
Feb 22 2023 // This edition of International People Moves details appointments at Swiss Re, MS Reinsurance, and Aon. A summary of these new hires follows here. Swiss Re Promotes Ningen to CEO, US P&C Re Monica Ningen Monica Ningen...
Orderly Runoff Didn’t Work; Florida’s United P&C Now Insolvent, Headed for Liquidation
Feb 20 2023 // Just days after some 90,000 policies from troubled United Property & Casualty Insurance Co. were transferred to Slide Insurance as part of a wind-down of the carrier, it was announced that UPC is officially broke and...
People Moves: Howden Tiger Taps Carpenter’s Smith, Aon’s Walsh for Casualty; Aon Promotes Alcott to UK Chief Commercial Officer; Miller Hires Keeping as Head of P/C
Feb 7 2023 // This edition of International People Moves details appointments at the brokers Howden Tiger, Aon and Miller. A summary of these new hires follows here. Howden Tiger Taps Carpenter’s Smith, Aon’s Walsh for...
Slide Will Assume 91,000 Policies and Premium in United P&C Runoff in Florida
Feb 1 2023 // One year after Slide Insurance made waves by taking over thousands of policies from a troubled Florida carrier, the young company has done it again. The Florida Office of Insurance Regulation on Tuesday signed a consent...
At-Bay Acquires Licensed P&C Insurance Carrier
Jan 24 2023 // Managing general agent At-Bay said it has acquired an excess and surplus lines insurer licensed in 44 states from XL Insurance America to now become a full-stack carrier. “This milestone will allow us to accelerate...
People Moves: Kerton Joins IOA’s P/C Division
Jan 20 2023 // Kerton Insurance Office of America has hired Kevin Kerton to its property and casualty division in Bonita Springs, Florida. As a commercial lines risk advisor, Kerton will focus primarily on construction and...
Calling All Top P/C Agents: Agents of the Year Nominations Now Open
Dec 15 2022 // Insurance Journal is once again searching for the nation’s leading independent agents and to become part of the annual Top Property/Casualty Agent listing. Be recognized as an industry leader among the nation’s...
Kuczinski to Retire as CEO of Munich Re US P&C Companies
Dec 15 2022 // Munich Reinsurance America Inc. announced the retirement of Anthony J. Kuczinski as chief executive officer of Munich Re US P&C Companies and of Munich Re US Holding Inc., effective Dec. 31, 2022, with an agreed change...
Global P/C Insurance Outlook Now Negative: Moody’s
Dec 6 2022 // High claims inflation and rising reinsurance costs are among the factors that prompted analysts at Moody’s Investors Service to change their outlook for the global property/casualty sector from stable to negative,...
Q3 Combined Ratio for U.S. P/C Industry Highest in 5 Years
Dec 5 2022 // The U.S. property/casualty industry posted a combined ratio of about 106.6 in the third quarter — the highest in five years, according to an analysis by S&P Global Market Intelligence. “In addition to the...
Q3 Combined Ratio for U.S. P/C Industry Highest in 5 Years
Nov 23 2022 // The U.S. property/casualty industry posted a combined ratio of about 106.6 in the third quarter – the highest in five years, according to an analysis by S&P Global Market Intelligence. “In addition to the...
Commercial P/C Rates Up for 20th Straight Quarter: CIAB
Nov 18 2022 // Third-quarter 2022 marked the 20th consecutive quarter of increased premiums for commercial property/casualty, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium...
Regulatory Roundup: HCSMs, Delaware P&C Market Regulations, and Colorado Changes After Marshall Fire
Nov 9 2022 // This post is part of a series sponsored by AgentSync. State by state variations of laws, compliance protocols, industry transparency, and general regulatory cultures can lend one the impression that keeping up with...
Universal P&C Posts $72 Million Loss, But Says it’s Well-Covered with Reinsurance
Oct 31 2022 // Universal Insurance Holdings Inc., the parent company of Universal Property & Casualty Insurance Co., Florida’s second-largest carrier, posted a $72 million loss for the third quarter of this year. That’s...
Chubb’s Q3 Numbers: Net Income Falls on Realized Losses; P/C Profits Up 15%
Oct 26 2022 // In spite of incurring nearly $1 billion in pre-tax net losses from Hurricane Ian, Chubb reported a combined ratio of 93.1 for the third quarter of 2022, representing $710 million in underwriting income. Property/casualty...
AXA to Acquire Spanish P/C Insurer GACM España for €310M
Oct 18 2022 // AXA announced that AXA Spain has entered into exclusive negotiations to acquire Groupe Assurances du Crédit Mutuel España (GACM España), a Spanish property/casualty and health insurer. Under the terms of the...
U.S. Treasury Proposes Climate Data Collection Rule for P/C Insurers
Oct 18 2022 // U.S. Treasury on Tuesday said it was proposing a new rule to collect data on climate-related risks from property and casualty insurers, one of the first concrete actions in a new push to beef up financial regulation to...
Future of Insurance: How Technology May Change P/C Underwriting and More
Oct 17 2022 // With rising inflation and the prospect of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of data. All the while,...
Judge Dismisses Florida Racketeering Lawsuit Against United P&C
Oct 14 2022 // A federal judge has dismissed a lawsuit against United Property & Casualty Insurance Co. and its adjusters, a closely watched legal action that charged the insurer had violated anti-racketeering laws to systematically...
