P&C Companies News

P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best

The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile, general and professional liability, and medical professional liability. For …

People Moves: Chubb Appoints Execs in Construction, A&H; Hippo Adds to Legal & Compliance; Alleyne Named Chief Legal Officer at Munich Re US

Chubb has appointed Lyndsey Christofer as executive vice president, Construction Industry Practice Leader for its large account segment. In this capacity, she will oversee a team of construction underwriting and service specialists across multiple lines of business. In addition, she …

Participate in Insurance Journal’s Young Agent Survey Today

Insurance Journal is seeking young independent insurance agents – those 40 and under – to share their thoughts on the insurance industry, their job and their future as a young professional in the annual Young Agents Survey. The results will …

Coalition Adds 5 Hires to Middle Market Production Underwriting Team

Coalition has appointed five new production underwriters to help grow and serve the company’s middle market relationships. New Coalition production underwriting team members include: Andrew Cross, based in San Francisco, joined Coalition from CNA Insurance where he held the role …

Low-Level Jobs, Less School Could Mean Costly Auto Policies

Drivers with less education and lower-ranking jobs could wind up paying more for auto insurance, magnifying the impact of systemic racism, according to a Consumer Reports analysis. The consumer-advocacy group sought price quotes from several insurance companies for a hypothetical …

Canada Reports 20-Year High in Overseas Investment in Insurance M&A

Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021. …

Zurich and Farmers Agree to Buy MetLife’s U.S. P/C Business for $3.94 Billion

Zurich Insurance and Farmers Exchanges have agreed to buy MetLife’s U.S. property and casualty business for $3.94 billion, the insurers said on Friday, after the COVID-19 pandemic made motor and home insurers more profitable. Motor and home insurers have had …

Insurance Journal’s Annual Charity Issue: Deadline Tomorrow

This is the last week to submit for Insurance Journal’s Charity Issue. This annual special issue of Insurance Journal’s print magazine highlights some of the many charitable tales in insurance. Share your firm’s story on how you support the community. …

Kemper to Pay $370M for Specialty Insurer Focused on Hispanic Market

Kemper Corp. has agreed to pay $370 million in cash for specialty auto insurer American Access Casualty Company and its related captive insurance agency, Newins Insurance Agency Holdings. Driving the deal: Growth potential among Hispanic and other niche markets. Plans …

Zurich Insurance in Talks to Acquire MetLife Unit for $4 Billion

Switzerland’s Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc.’s U.S. property and casualty (P&C) car and home insurance unit for close to $4 billion, according to people familiar with the matter. Zurich Insurance issued a statement …