Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Court Named President of First American Property and Casualty in California
Aug 11 2014 // First American Property and Casualty Insurance Group has named James J. Court president of the company. Court is based in the company’s office in Santa Ana, Calif. Dirk McNamee assumes the role of vice...
Soft P/C Market Flattens Independent Agencies’ Organic Growth in Q2: Reagan Consulting
Aug 5 2014 // Independent insurance agents and brokers reported median organic growth of 5.8 percent for the second quarter of 2014, a weakening from 6.2 percent for the first quarter of 2014 and 6.9 percent for the second quarter of...
Best’s Report Sees M&A Activity for P/C & Reinsurance Focused on Diversification
Aug 5 2014 // A report from A.M. Best concludes that “global merger and acquisition (M&A) activity in the property/casualty (P/C) and reinsurance industries continued at a steady pace in the first half of 2014.” Best...
Berkshire Profit Soars; Geico, Gen Re Profits Up
Aug 4 2014 // Net income for Berkshire-Hathaway soared nearly 41 percent to $6.4 billion in second-quarter 2014, with nearly $2.0 billion of investment gains lifting the total, while underwriting profits for Berkshire-Hathaway’s...
Privately-Held Independent Property/Casualty Agencies
Aug 4 2014 // About This Report: Welcome to the 10th annual Insurance Journal Top 100 Independent Property/Casualty Agencies report. The Top 100 list is ranked by total property/casualty agency revenue for 2013 and comprises only those...
Top 100 and More
Aug 4 2014 // This year marks the 10th annual publication of Insurance Journal‘s Top 100 Independent P/C Agencies report. In our effort to identify the nation’s leading privately-held independent property/casualty insurance...
Hartford’s McGee Discusses Company’s Turnaround, Transformation
Aug 1 2014 // The Hartford Financial Services Group’s Liam McGee, who stepped down as president and CEO on July 1 but will remain executive chairman until next year’s shareholder meeting, spoke about the company’s...
The Hartford Realigns Senior Leadership
Aug 1 2014 // The Hartford Financial Services Group announced a realignment of its senior leadership positions. The Hartford CEO Christopher J. Swift said the realignment is part of the company’s strategy to grow the Property...
Hartford’s Q2 Core Earnings Decline 38% to $144M; Net Loss Widens
Jul 31 2014 // The Hartford Financial Services Group said Wednesday its 2014 second quarter net loss widened to $467 million, compared to a net loss of $190 million during last year’s second quarter. The results were hit by $617...
UnitedHealth’s $173M Fine May Be Warning to P/C Insurers
Jul 30 2014 // A decision by California Insurance Commissioner Dave Jones to fine UnitedHealth Group $173.6 million for violations having to do with the Unfair Business Practices Act, the Unfair Insurance Practice Act and unfair claims...
Heffernan’s New York Branch Hires Associate VP
Jul 30 2014 // Heffernan Insurance Brokers recently hired Patrick Rohan to join its New York office as an associate vice president. Rohan will focus on building the nonprofits and municipalities niche practices for Heffernan. Rohan is a...
Insurers Overemphasizing Digital Service Risk Alienating Customers: Bain
Jul 24 2014 // Global top performers in the high-churn personal insurance industry win over customers with consistent outreach that relies on multiple channels for customers to connect including phone, internet or face-to-face. However,...
ACE Limited Posts $779 Million Q2 Net Income; $1.513 Billion 1st Half
Jul 23 2014 // ACE Limited reported net income of $779 million for the first quarter of 2012, compared to $891 million in Q2 2013. For the first six months of 2014 ACE had net income of$1.513 billion, compared to $1.844 billion in the...
Gen Re Announces Senior Appointments in Asia Pacific
Jul 22 2014 // Berkshire Hathaway’s General Re has announced a number of senior appointments in the Asia Pacific region, as follows: Pietro Toffanello will assume the role of Property/Casualty Regional Manager for Asia Pacific, in...
USI Acquires BHB Insurance Services in New Jersey
Jul 21 2014 // USI Insurance Services announced the closing of the acquisition of BHB Insurance Services in Toms River, New Jersey. Terms of the transaction were not disclosed. USI says BHB is best known for its community associations...
S&P Scores Global P/C Reinsurance Sector Risk As ‘Intermediate’
Jul 21 2014 // Standard & Poor’s Ratings Services has issued an intermediate insurance industry and country risk assessment (IICRA) score on the global property and casualty reinsurance sector. The report “Insurance...
P/C Insurers’ Profit Dipped in Q1
Jul 21 2014 // Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net gains...
Q1 P/C Direct Premium Written Up 3.5 Percent
Jul 21 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...
Insurance Trade Agreements Are Good for Consumers and Markets
Jul 21 2014 // David SnyderYou can be sure critics are already getting ready to pounce on a preliminary draft of the financial services section of the Trade in Services Agreement (TiSA), invoking the usual rhetoric about the evils of...
Fitch Forecasts Shrinking P/C Insurer Profits
Jul 17 2014 // Fitch Ratings is forecasting that 2014 will end up as the second consecutive year of underwriting profits for the property/casualty industry with modest increase in the combined ratio. But the results for 2014 won’t...
