Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Markel Names Falvey Director of Public Entity Product Line For West
Mar 12 2013 // Brendan Falvey was named director of the public entity product line for the Markel Corp.’s West Region. Falvey is responsible for managing existing West Coast public entity client and broker relationships and...
Agents Hang Onto P/C Market But Lose Ground in Personal Auto: Study
Mar 11 2013 // After experiencing dwindling premiums for years, the property/casualty insurance industry managed to grow substantially in 2011. Independent agents and brokers hung onto their share of the market with some independent...
Texas Market Share: Homeowners and Personal Auto
Mar 11 2013 // Top 40 Insurers/Homeowners Based on 2011 Texas Written Premium Rank Company $ Written Premium % of Market 1 State Farm Lloyds $1,678,075,665 28.09% 2 Allstate Texas Lloyd’s 462,398,477 7.74% 3 Texas Farmers Ins....
Report Questions Insurer Readiness, Attitudes on Climate Change
Mar 7 2013 // A report out Thursday that details responses to a climate change survey from insurers doing business in California, Washington and New York shows many insurers are prepared to deal with today’s extreme weather...
SCOR Posts $545 Million 2012 Net Income; Strong Growth
Mar 7 2013 // France’s SCOR Group reported a solid performance for 2012, which it said “continues to combine growth, profitability and solvency.” Highlights for the year were listed as follows: •Gross written...
Lockton Adds Budworth, Ruback as VPs, Account Execs in Chicago
Mar 5 2013 // Lockton Cos. appointed Mary Anne Budworth and Amanda Ruback as vice presidents and account executives in Chicago. Budworth has more than 19 years of experience managing both property/casualty and life and health insurance...
Best Affirms Hartford and Subs Ratings; Downgrades Hartford Life Companies
Mar 5 2013 // A.M. Best Co. has removed from under review with negative implications and downgraded the financial strength ratings (FSR) to ‘A-‘ (Excellent) from ‘A’ (Excellent) and the issuer credit ratings...
DeVos Promoted to Vice President at Assurance
Mar 1 2013 // Melanie DeVos has been promoted to vice president, Client Services – Property and Casualty at Assurance, an independent insurance brokerage located in Schaumburg, Ill., and St. Louis, Mo. This newly created role is...
Erie Indemnity Posts $160M Profit for Full-Year 2012
Feb 28 2013 // Erie Indemnity Company, the managing company for Erie Insurance, posted 2012 fourth-quarter earnings of $30 million, up 15 percent from earnings of $26 million in the fourth quarter of 2011. Operating income was $29...
Best Affirms American Financial, Most Subs Ratings; Upgrades Mid-Continent
Feb 25 2013 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb+” and all debt ratings of American Financial Group, Inc. (AFG), as well as the financial strength rating (FSR) of ‘A’ (Excellent)...
Wells Media Launches ‘Carrier Management’ For P/C Insurance Executives
Feb 22 2013 // Without a single headline referring to a hardening property/casualty insurance market, Wells Media Group has launched a new website—CarrierManagement.com—a business management publication focusing on the needs of...
Swiss Re Posts $4.2 Billion 2012 Net Income; Premiums & Fees up 15%
Feb 21 2013 // Swiss Re reported strong 2012 results with net income for the year of $4.2 billion for full-year 2012, compared to $2.6 billion in 2011. The report said the “result was driven by strong premium and fee income growth...
EPIC Adds Descalso as Principal in Northern California
Feb 14 2013 // Edgewood Partners Insurance Center named George Descalso as a property and casualty insurance producer and principal in its San Mateo, Calif., office. Descalso’s responsibilities include the acquisition of new...
Alabama Warns Hundreds of Insurers to Register or Face Fine
Feb 8 2013 // Hundreds of property/casualty insurance companies have not registered with Alabama regulators as required, prompting the state insurance department to issue a warning and extend the registration deadline to March 31. The...
Lucky Or Smart? Experts Weigh-In On P/C Industry’s Sandy Impact
Feb 7 2013 // At least one industry analyst says that good risk management is protecting insurers as they face a new normal level of catastrophe losses. Other experts believe luck is playing a bigger role than skill. Speaking at the...
The Hartford Posts $46M Q4 Net Loss; $350M in Sandy Loss Reported
Feb 5 2013 // The Hartford Financial Services Group Inc. reported a net loss of $46 million for the 2012 fourth quarter, in contrast to the fourth quarter of 2011 when the company posted $118 million profit. The Hartford,...
Munich Re Preliminary Figures Show $4.33 Billion Profit in 2012
Feb 5 2013 // Munich Re’s preliminary financial figures for 2012 show a profit of €3.2 billion [$4.33 billion], compared to catastrophe prone 2011, when it posted a profit of €710 million [$960 million]. The reinsurer’s...
Liz Henderson Joins ASL FL as Property/Casualty Producer
Feb 4 2013 // Clearwater, FL, 02/04/13 – In alignment with the corporate initiative for growth of the company’s presence in Central Florida, Atlantic Specialty Lines of Florida , Inc. has added Liz Henderson, AAI, AIS to...
Chubb’s 2012 Q4 Profit Drops 77% to $102M; $882M Sandy Loss Reported
Feb 1 2013 // The Chubb Corp. reported $102 million net profit for its 2012 fourth quarter, down 77.4 percent compared to the fourth quarter of 2011 when the insurer reported $452 million profit. Chubb’s net profit for the...
ACE Limited Forecasts 2013 Profit below Estimates; Shares Drop
Jan 30 2013 // Insurer ACE Limited reported a 24 percent fall in quarterly operating profit, hurt by losses related to Superstorm Sandy, and forecast a full-year profit below analysts’ estimates. After-tax catastrophe losses...
