Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Insurers’ Net Income Rose in First-Half of 2014
Oct 20 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
P/C Direct Premium Written Up 5.2% in First-Half of 2014
Oct 20 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record high for the industry. For 2013, total DPW...
Large Agencies More Optimistic About Future Growth: Vertafore Study
Oct 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,...
Global Indemnity to Acquire American Reliable from Assurant Specialty
Oct 17 2014 // Assurant Specialty Property, a business segment of Assurant Inc., has agreed to sell its general agency business and associated insurance carrier, American Reliable Insurance Co., to Global Indemnity Group Inc., the U.S....
P/C Insurers Rush to Meet Rising Demand for Cyber Insurance
Oct 9 2014 // Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this...
New National Search Firm Specializing in P/C Insurance Opens in Kansas
Oct 7 2014 // A new executive search and recruiting firm exclusively dedicated to the property/casualty insurance industry has opened its doors in Prairie Village, Kan. Cohn Search Group provides a full-service recruiting experience to...
P/C Insurers’ Net Income Rose, Operating Income Fell in First Half
Oct 6 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
NAMIC Honors 5 P/C Executives with Service Awards
Sep 24 2014 // The National Association of Mutual Insurance Companies recognized five individuals today for their service to the property/casualty insurance industry. Receiving the NAMIC Service Award at the association’s 119th...
Allianz to Assume Fireman’s Fund Commercial Lines; Future of Personal Lines Uncertain
Sep 17 2014 // German insurance giant Allianz said it will absorb the commercial lines business of its U.S. subsidiary Fireman’s Fund Insurance Co. into one of its own global divisions. Meanwhile, after days of declining to...
AIG’s Regional Casualty Exec Thomas Joins Victor O. Schinnerer in Maryland
Sep 17 2014 // Underwriting manager Victor O. Schinnerer & Company Inc. in Chevy Chase, Maryland, has hired Scott P. Thomas as senior vice president and senior underwriting manager leading the firm’s property/casualty segment...
Aon Benfield Study: Global Reinsurer Capital at New Peak – $570 Billion
Sep 8 2014 // The latest edition of the Aon Benfield Aggregate (ABA) report, which analyzes the financial results of the world’s leading reinsurers in the first half of 2014, estimates that global reinsurer capital reached a...
State of the Market: Surplus Lines Bounces Back
Sep 8 2014 // The surplus lines industry showed its subpar showing in 2012 was uncharacteristic as it outperformed the overall property/casualty industry once again in 2013. While 2013 was a good year all-round for the P/C industry, it...
Near National P/C Carriers Identified for 2014
Sep 8 2014 // The original criteria and objective definition for the Near Nationals was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one of 11...
Florida OIR Approves Removal of Up to 427,584 Policies From Citizens
Sep 5 2014 // The Florida Office of Insurance Regulation (OIR) announced that it has approved the removal of up to 425,357 personal residential policies and 2,227 commercial residential policies from Citizens Property Insurance Corp. by...
SCOR Receives License to Operate as Local Brazil Reinsurer
Sep 4 2014 // France’s SCOR announced the creation of a local entity in Brazil, SCOR Brasil Resseguros SA (SCOR Brasil Re), following receipt of a license to operate as a Local Reinsurer granted by the Brazilian insurance...
Hancock Takes Over at AIG After Benmosche’s ‘Great Leadership’: Miller
Sep 2 2014 // The leadership transition at insurer American International Group Inc. is like switching generals after winning a war, Chairman Steve Miller said. “We’re changing generals as we move from wartime to...
Arthur J. Gallagher Risk Management Acquires Dezelan Insurance Agency
Sep 2 2014 // Arthur J. Gallagher Risk Management Services Inc. has acquired Dezelan Insurance Agency located in Indianapolis, Ind. Founded in 1927, Dezelan Insurance Agency (Dezelan) is a retail insurance broker providing...
Parker Named New CEO of USAA
Aug 29 2014 // Stuart Parker, currently chief operating officer at San Antonio-based USAA has been named to succeed current CEO Joe Robles when he retires at the end of February 2015. USAA Capital Corporation President Carl Liebert will...
South Carolina’s Companion P&C to Be Acquired by Enstar Group
Aug 27 2014 // Enstar Group Limited in Bermuda said Tuesday it has entered into a definitive agreement to acquire Companion Property and Casualty Insurance Company from Blue Cross and Blue Shield of South Carolina. The total...
Nationwide Mutual P/C Felt Pain of June Storms
Aug 14 2014 // Nationwide Mutual Insurance Co.’s property/casualty arm performed solidly in the 2014 second quarter, despite the Polar Vortex and major storm activity that hampered earnings over the first six months of the...
