Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Cat-Exposed Property Highlights Q4 Rate Increases: MarketScout
Jan 6 2023 // According to MarketScout’s Market Barometer, the fourth quarter 2022 composite rate for U.S. commercial lines of insurance was up 5.1%. The Dallas-based distribution and underwriting company said property insurance...
January Renewals See Hardest Property Catastrophe Reinsurance Rates in Generation
Jan 4 2023 // A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went...
People Moves: Sompo Int’l Taps Berkshire’s Crozier for UK Casualty; AXA XL Re Promotes Abend for Bermuda Property; Gallagher Re Names Senior Leaders in Holland
Dec 22 2022 // This edition of International People Moves details appointments at Sompo International, AXA XL Reinsurance and Gallagher Re. A summary of these new hires follows here. Sompo Int’l Taps Berkshire’s Crozier for...
UK MGA Pen Underwriting Launches Claims Hub Dedicated to Property, Liability
Dec 19 2022 // Pen Underwriting has launched a new regional claims hub in Chelmsford dedicated to managing commercial property and liability claims, which will complement its existing team of specialists in Manchester, England. As part...
Kinsale Acquires Property in Richmond
Dec 16 2022 // Specialty insurance business Kinsale Capital Group, Inc. announced that it has acquired real estate property adjacent to its current headquarters in Richmond, Virginia for $76.2 million, through a wholly owned...
MGA Pixel Re Launched for Global Property, Energy Risks of $500M and Above
Dec 5 2022 // Connect Underwriting Ltd., a London-based specialist reinsurance managing general agent, announced the availability of new capacity via Pixel Re, a new dedicated, monoline reinsurance vehicle for global property and...
People Moves: Liberty Mutual New Global Property Product Lead; Canopius Head of U.S. Actuarial; Dresner Takes Everspan CEO Role
Nov 29 2022 // Liberty Mutual Appoints Maria Grace to New Role of Global Product Leader, Property Liberty Mutual Insurance has appointed Maria Grace as global product leader, property, effective January 3, 2023. Grace will be responsible...
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Nov 23 2022 // Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch Ratings Fitch expects double-digit percentage premium...
People Moves: Generali’s GC&C Names Marcato to Lead Financial Lines; BHSI Promotes Taylor for Property in ANZ; Optio Taps Hartford’s Barrett for Financial Lines
Nov 17 2022 // This edition of International People Moves details appointments at Generali’s Global Corporate & Commercial, Berkshire Hathaway Specialty Insurance and Optio Group. A summary of these new hires follows...
Gallagher Acquires NC-based Intellectual Property Insurance Firm
Nov 15 2022 // The global insurance brokerage and consulting firm, Arthur J. Gallagher & Co., has acquired a North Carolina-based intellectual property insurance firm. PIUS, or Patent Insurance Underwriting Services, is considered a...
People Moves: Everest Re Taps AXA XL’s Mann to Lead Casualty, UK; RenRe Promotes Marra to CUO; Lockton Re Names Aon’s Ryan for Retrocession & Property Specialty
Nov 10 2022 // This edition of International People Moves details appointments at Everest Re, RenRe and Lockton Re. A summary of these new hires follows here. Everest Re Names AXA XL’s Mann Head of Casualty, UK Branch Everest...
Insuring Cannabis Summit: 2023 Bringing Lawsuits, Higher Property Rates, More Products
Nov 8 2022 // Powered by InsuranceJournal.tv An increase in new markets, and better brand recognition and distribution from existing markets, has led to more competition in the insuring cannabis space. That’s a good for the...
People Moves: Dale Enters Marine Re With 2 MS Amlin Hires; Chubb Taps AGCS’ Turberville as Head of Hull, Global Mkts.; Argenta Names Blackwell Head of Property
Nov 4 2022 // This edition of International People Moves details appointments at Dale Underwriting Partners, Chubb and Argenta. A summary of these new hires follows here. Dale Underwriting Offers Marine Reinsurance With 2 Hires From MS...
Allstate Q3 Net Income in the Red; Continues Efforts to ‘Restore Property-Liability Margins’
Nov 3 2022 // Allstate Corp. said it recorded a third quarter net loss applicable to common shareholders of $694 million compared to net income of $508 million a year ago during the same time. Allstate’s Q3 combined ratio was an...
As Special Session Nears, Florida Chamber Urges More Property Insurance Reforms
Nov 2 2022 // Florida is in the midst of a swirling storm with a property insurance market that has been described as in free fall. In late August, we marked the 30th anniversary of Category 5 Hurricane Andrew making landfall in South...
Berkley Cooling on Professional Lines, Firing Up Property Cat Re Engines
Oct 26 2022 // Property cat reinsurance: “More.” Professional liability insurance: Not so much. The president and chief executive officer of W.R. Berkley Corp., Robert Berkley, Jr., shared his company’s appetite for...
Property Cat Market to Harden More; Possible ‘Significant Supply Imbalance’: MMC’s Doyle
Oct 21 2022 // While the total impact of Hurricane Ian won’t be realized for some time, the effect on an “already stressed property market will be significant,” said John Q. Doyle, group president and COO of Marsh...
South Carolina Approves Cut in Credit Property Insurance Rates
Oct 18 2022 // The South Carolina Department of Insurance has approved new, tentative rates for credit property insurance in the state. The allowed rates amount to a 9.1% decrease from 2021’s levels, acting Director Michael Wise...
Why Regulatory Interference Drives Property Insurance Market Instability
Oct 17 2022 // Many states are facing a growing affordability and availability crisis in property insurance markets, and it’s not just because of climate change. While climate change is leading to more severe and frequent natural...
How Insurance Carriers Can Survive Hard CAT Property Markets
Oct 17 2022 // There’s no denying it — challenging times are coming for CAT property markets. Truthfully, they’re already here. As I type this article, Hurricane Ian (category 4) is hours away from a direct hit on...
