Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Florida Approves More Takeouts at Citizens; OKs Commercial Hikes
Nov 5 2012 // Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal...
Q2 Direct Premium Written Up Nearly 5% for P/C Companies
Nov 5 2012 // Overall, property/casualty insurance companies continued to serve their clients during an increased number of catastrophic events in 2011 as well as the tough economic conditions that have defined the better part of the...
The Hartford’s Q3 Profit Soars; CEO Calls Hurricane Sandy ‘Manageable Exposure’
Nov 2 2012 // The Hartford Financial Services Group reported $401 million profit for its third quarter, up from $60 million profit posted during the same period one year ago. CEO Liam McGee said the Hartford generated strong...
AIG Profit Gains on Investments; P/C Earnings Fall But Pricing Improves
Nov 1 2012 // American International Group Inc. earned a larger-than-expected profit during the third quarter, due in part to big gains on its investment holdings. Questions about the sustainability of those profits, and uncertainty...
P/C Insurers Can Handle Sandy Losses; Flood Program to Bear Brunt
Oct 30 2012 // Ratings analysts at A.M. Best Co. said that 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...
Pocius Joins Lockton’s St. Louis Operation
Oct 24 2012 // Amanda Pocius has joined as an account executive in insurance broker Lockton’s St. Louis, Mo., office. She will be responsible for client advocacy and new business development in property and casualty insurance for...
Florida Approves More Policy Takeouts at Citizens; Also OKs Commercial Rate Hikes
Oct 23 2012 // Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal...
