Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Double-Digit Returns Absent From Year-End, 2013 Financial Forecasts
Dec 17 2012 // Although analysts following the property/casualty insurance industry expect underwriting results for 2012 to be better than 2011 when full-year numbers are tallied, double-digit overall returns-on-equity are still not...
2013 Buyer’s Guide
Dec 17 2012 // Welcome to Insurance Journal‘s Annual Buyer’s Guide, your A-Z for P&C. Looking for insurance services, products, and solutions? Save this valuable directory – it’s listed by category so...
People
Dec 17 2012 // Associated Agencies Inc., based in Rolling Meadows, Ill., has promoted Joshua Herz to president, making him the fourth person in the same family to hold the position. Herz succeeds his cousin, Max (Skip) R. Schrayer, who...
P/C Insurers’ Capital at ‘Historically High’ Levels: Fitch
Dec 14 2012 // Fitch Ratings has maintained its stable outlook for both the commercial and personal lines sectors of the U.S. property/casualty insurance industry. Insurers have withstood less favorable underwriting and economic...
Best Affirms United Services Automobile Ass’n. and Subs ‘A++’ Ratings
Dec 13 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of United Services Automobile Association (USAA) and its property/casualty...
W.R. Berkley Names President of B F Re Underwriters in Conn.
Dec 5 2012 // Greenwich, Conn.-headquartered W.R. Berkley Corp. announced Gregory A. Douglas has been named president of its B F Re Underwriters unit. The appointment is effective January 1, 2013. Douglas succeeds Daniel L. Avery, who...
W.R. Berkley Names President of FinSecure Unit in Baltimore
Dec 4 2012 // Greenwich, Conn.-headquartered W.R. Berkley Corp. announced Michael P. Dandini has been named president of the company’s FinSecure LLC unit. Dandini has nearly 20 years of experience in the property/casualty...
Fitch Downgrades Argentine Insurers Ratings after Sovereign Downgrade
Dec 3 2012 // Fitch Ratings has downgraded the long-term National Scale ratings of 12 insurance companies in Argentina, and has also revised the companies’ rating outlooks to negative from stable. Fitch said it took the rating...
Business Moves – East
Dec 3 2012 // Onex Corp., USI Canadian private equity firm Onex Corp. agreed to acquire insurance brokerage USI from Goldman Sachs Group’s GS Capital Partners private equity fund in a transaction valued at $2.3 billion. The deal...
Lynch Named Kemper P&C Group Executive; Schulte Resigns
Nov 30 2012 // Kemper Corp. announced that Denise I. Lynch has been named property/casualty group executive effective Dec. 1. She will report directly to Donald G. Southwell, Kemper’s chairman, president and chief executive...
Mass. Independent Agents Have Over $1B Impact on State Economy: Report
Nov 19 2012 // Five years ago, Massachusetts introduced its “managed competition” program — and since then, there has been an influx of direct writing and direct response companies coming into Massachusetts and...
Business Moves – Midwest
Nov 19 2012 // Arthur J. Gallagher, Coyle Insurance Agency, Unison Inc., Aires Consulting Group Arthur J. Gallagher & Co. recently announced acquisitions of three Midwest-based firms — Coyle Insurance Agency Inc., Unison Inc....
Ironshore Names Scully Global Chief Actuary
Nov 15 2012 // Ironshore Inc. announced that Mark Scully has been named Global Chief Actuary, to be based in the New York office. He will be responsible for overseeing Ironshore’s global actuarial team, reporting to Kevin H....
AIG’s Core P/C, Life Operations Resume Use of AIG Brand Name
Nov 11 2012 // American International Group Inc. said it will now use AIG as the name for all of its global property/casualty operations, including Chartis, in most locations, and that the company’s life and retirement segment is...
Marsh & McLennan Agency Acquires Protector Group in Massachusetts
Nov 8 2012 // Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., acquired Worcester, Massachusetts-based The Protector Group Insurance Agency, one of the largest independent agencies in New England. Terms of...
Swiss Re Posts $2.2 Billion Q3 Net Income
Nov 8 2012 // Swiss Re reported net income of $2.2 billion in the third quarter of 2012, compared to $1.3 billion in the prior-year period, and a return on equity of 28 percent, “driven by continued strong performance from...
Wells Fargo Insurance Announces New Regional Leadership in Midwest
Nov 7 2012 // Wells Fargo Insurance, part of Wells Fargo & Co., has named new regional leaders in the Midwest. Led by regional managing director John Meder, the team serves the Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri,...
Munich Re Raises 2012 Profit Forecast on Stronger 9-Month Results
Nov 7 2012 // Munich Re said it expects a higher consolidated result for 2012 than previously envisaged. Following a profit of €2.7 billion [$3.47 billion] for the first nine months of 2012 (same period last year: €80 million...
P/C Insurance Editor Sclafane Joins Wells Media Group
Nov 6 2012 // Susanne Sclafane has joined property/casualty insurance media company, Wells Media Group, as Senior Editor. In her new position, Sclafane will be in charge of improving the company’s content and services to meet the...
P/C Insurers Can Handle Sandy Losses: A.M. Best
Nov 5 2012 // Ratings analysts at A.M. Best Co. said it is likely that the brunt of Hurricane Sandy’s financial impact will fall on the National Flood Insurance Program (NFIP), which is responsible for almost all flood coverage in...
