All the headlines from our Property Casualty Topic Page, ordered by recency.
Feb 28 2022 // Although Berkshire Hathaway’s biggest insurance operation GEICO reported a 63 percent drop in pretax underwriting income in 2021, overall the conglomerate’s insurance and reinsurance operations saw pretax...
Feb 28 2022 // St. Johns Insurance Co., one of the larger property/casualty insurers based in Florida, is now insolvent and will soon be liquidated.The Florida Department of Financial Services posted a notice Friday that a judge in Leon...
Feb 24 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Feb 23 2022 // Ms. Richards states, “It is an honor to serve a carrier so dedicated to fighting for justice on behalf of our insured partners.”Chicago, IL, February 23, 2022 — Rick J. Lindsey, President, CEO and Chairman of...
Feb 22 2022 // This post is part of a series sponsored by Old Republic Surety.Do you want to build a book of surety business at your agency, but you’re not sure how to get started? Have you been selling surety bonds, but want to...
Feb 17 2022 // Global insurer American International Group (AIG) reported strong fourth quarter and year-end results led by the performance of its General Insurance business.After reporting a net loss of $60 million in the fourth quarter...
Feb 16 2022 // Ratings for the U.S. property/casualty industry returned to pre-pandemic levels with some companies strengthening balance sheets and improving operating results, said financial strength rating agency AM Best.In 2021 the...
Feb 15 2022 // An increase in capital gains on investments is largely credited with lifting the after-tax net income of private U.S. property/casualty insurers to $42.1 billion over nine months in 2021 compared to $35.2 billion during...
Feb 11 2022 // Great American Insurance Group has promoted Jason M. Cohen to senior vice president and Julie F. Kadnar to divisional group president within its Property & Casualty Group.In 2006, Cohen joined the company as divisional...
Feb 9 2022 // It’s that time of year again. Time for a little fun.The insurance industry tries to predict losses. Can the industry predict winners? Which team will win Super Bowl LVI on Sunday? Cincinnati or Los Angeles? What will...
Feb 9 2022 // Finnish financial group Sampo reported stronger than expected fourth quarter earnings on Wednesday boosted by its core insurance operations, sending its share up more than 2%.The pan-Nordic insurer reported a pretax profit...
Feb 8 2022 // Betterview, an insurtech provider of property intelligence to property/casualty insurance companies, now has available what it calls its Defensible Space feature that enables insurers using the company’s Remote...
Feb 8 2022 // SCOR reported 19.0% premium growth during the January property/casualty (P/C) reinsurance renewals and an overall average P/C price increase of 4.9%.SCOR said the 19% premium growth figure includes a large structured...
Feb 7 2022 // There were 1,034 announced insurance agency mergers and acquisitions in 2021, up 30% from 795 reported in 2020, according to agency consultancy OPTIS Partners.Also, the 384 deals during the fourth quarter of 2021 marked a...
Feb 7 2022 // Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability.Through...
Feb 3 2022 // Kemper Corp. said it is taking rating and other actions, including canceling some agents, as it seeks to recover from inflation-riddled fourth quarter financial results.Kemper Corp. reported a net loss of $105.8 million...
Feb 3 2022 // This edition of International People Moves details appointments at legacy acquisition specialist Catalina Holdings (Bermuda), Willis Towers Watson (WTW) and BMS Canada.A summary of these new hires follows here. Legacy...
Feb 2 2022 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Universal Fire & Casualty Insurance Company, headquartered in Waterford,...
Feb 2 2022 // Great American Insurance Group announced that David L. Thompson Jr. has been named president and chief operating officer of Great American’s Property & Casualty Group.Thompson will become the 18th president in...
Feb 2 2022 // Chubb reported fourth quarter 2021 net income of $2.1 billion, a decrease of 11.5% compared to the same period the prior year.Nevertheless, the insurer had what CEO Evan G. Greenberg called “one of the best years in...