Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Winter Losses Pile Up But No Rating Impact on P/C Insurers Expected: Fitch
Mar 4 2014 // Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe winter weather from Jan. 1...
Insurance Units’ Profits Drive Berkshire Hathaway
Mar 3 2014 // Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the 11th year in a row with...
Erie Indemnity Reports $163M Income for Full-Year 2013
Feb 28 2014 // Erie Indemnity Company, the management company for Erie Insurance, reported $36 million net income for its 2013 fourth quarter, up 20 percent from $30 million reported during the prior-year fourth quarter. The full-year...
MacDonald to Head Miller’s New Combined P&C Team
Feb 27 2014 // UK specialist insurance and reinsurance broker Miller Insurance Services LLP announced that it is combining its property and casualty specialists into one business area headed by Ken MacDonald. Miller said the new...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest...
Best Affirms National Interstate Corp. and P&C Subs Ratings
Feb 26 2014 // Along with its ratings announcement for the AFG Group, A.M. Best also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of National Interstate...
Best Upgrades American Financial Group and Affiliates Ratings
Feb 26 2014 // A.M. Best has upgraded the issuer credit rating (ICR) to “a-” from “bbb+” and the debt ratings of American Financial Group, Inc. (AFG). Best has also upgraded the financial strength rating (FSR) to...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 24 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60...
Arthur J. Gallagher Acquires Louisiana Insurance Agency Kent, Kent & Tingle
Feb 21 2014 // Arthur J. Gallagher & Co. has acquired Kent, Kent & Tingle, a retail insurance broker based in Shreveport, La. Terms of the transaction were not disclosed. Founded in 1989, Kent, Kent & Tingle (KK&T)...
How ACA Healthcare Law Could Affect P/C Insurance Costs and Claims
Feb 21 2014 // The property/casualty insurance industry is likely to face cost shifting by hospitals, physicians and other medical providers due to the Patient Protection and Affordable Care Act (ACA), according to an insurance industry...
Best Affirms AIG and P&C Subs Ratings; Outlook Stable
Feb 21 2014 //
AXA Profit Rises 10% in 2013 on Life, Property and Casualty
Feb 21 2014 // AXA SA, Europe’s second-largest insurer, posted a 10 percent increase in 2013 profit on higher earnings at its life and savings and property and casualty divisions. Net income rose to €4.48 billion ($6.15 billion)...
Swiss Re Posts $4.4 Billion Profit for 2013; Plans Special Dividend
Feb 20 2014 // Swiss Re posted net income of $4.4 billion for 2013. The earnings report said the “result was driven by sustained, high profitability in Property and Casualty Reinsurance and very good performances by Corporate...
AIG Cutting Jobs, Moving Others to Lower Cost Cities
Feb 14 2014 // American International Group Inc. Chief Executive Officer Robert Benmosche is increasing returns for shareholders as he targets job cuts to simplify the firm. AIG boosted its quarterly dividend by 25 percent to 12.5 cents...
Kemper Corp. Realigns P&C Group
Feb 12 2014 // Kemper Corp. is realigning its property & casualty business. This realignment will result in one property & casualty segment for financial reporting purposes, beginning with the first quarter 2014. The new Kemper...
CNA Financial Selling Subsidiary to Wilton Re for $615M
Feb 11 2014 // Chicago-based insurer CNA Financial Corp. plans to sell a wholly owned life insurance subsidiary to Wilton Re Holdings Ltd. for about $615 million as it continues to focus more on its property/casualty business. CNA said...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 10 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60...
CNA Selling Continental Life, Group Business to Wilton Re
Feb 10 2014 // CNA Financial Corp. said it is selling its life and group insurance business, Continental Assurance Co., to a subsidiary of Wilton Re Holdings Ltd. CNA said it expected net proceeds of about $615 million from the sale and...
N.Y. Regulator Talks About Insurance Markets, 2014 Agenda
Feb 10 2014 // A top official from New York State’s Department of Financial Services (DFS) recently spoke about the state’s property/casualty insurance markets, calling it overall very good but “a bit more of a mixed...
SCOR’s GWP up 8% in 2013; 5% for January 1 Renewals
Feb 7 2014 // France’s SCOR Group confirmed that the reinsurer “booked 8 percent gross written premium growth (at constant exchange rates) for the full year 2013, to €4.85 billion [$6.58 billion]. SCOR Global P&C also...
