All the headlines from our Property Casualty Topic Page, ordered by recency.
Feb 12 2009 // The Bermuda-based Max Capital Group reported a net loss for the three months ended December 31, 2008, of $94.1 million, or $1.67 per diluted share, compared to net income of $62.4 million, or $1.00 per diluted share, for...
Feb 12 2009 // Louisiana Insurance Commissioner Jim Donelon announced that the Property and Casualty Consumer Affairs Division at the Department of Insurance aided Louisiana insurance consumers in receiving approximately $6,400,000 in...
Feb 10 2009 // Assurance Agency, Ltd., based in Schaumburg, Illinois, has promoted Dan Klaras from executive vice president to president. Klaras takes over for Anthony Chimino, who previously held the titles of both president and CEO....
Feb 10 2009 // Independent insurance and financial services firm Higginbotham & Associates added two brokers to its Austin, Texas, office.Higginbotham named Chris Camero an executive vice president for group benefits and Travis...
Feb 9 2009 // In a newly issued research report – “P/C Industry’s Profits Plunge; Insurers Poised for Turnaround ” – A.M. Best Co. states: “Declining underwriting results and weak investment markets...
Feb 8 2009 // Linda Timmons has been promoted to director of communications for the Independent Insurance Agents of Texas (IIAT). In this position, Timmons will manage the organization’s internal and external communications,...
Feb 8 2009 // Liberty Mutual Group is throwing in the towel on direct distribution of insurance to middle market businesses. Because it couldn’t beat independent agents and brokers — who dominate sales in this segment...
Feb 6 2009 // The Hartford Financial Services Group, Inc. reported a fourth quarter 2008 net loss of $806 million. For full year 2008, The Hartford reported a net loss of $2.7 billion, compared to net income of $2.9 billion in...
Feb 6 2009 // Fourth quarter profits at The Hanover Insurance Group fell 55 percent from $75.8 million a year ago to $34.1 million. Full-year net income dropped nearly 92 percent to $20.6 million, from the $253.1 million the Worcester,...
Feb 4 2009 // ACE Limited reported net income for the fourth quarter ended December 31, 2008, of $20 million, a 96 percent decline from the $572 million the group posted in the same period of 2007. The company recorded net losses on...
Feb 3 2009 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during December.The actions include five license revocations, three license denials and fines and...
Feb 3 2009 // In contrast to A.M. Best and Standard & Poor’s, Fitch Ratings has downgraded the senior debt rating of the Allstate Corporation to ‘BBB+’ from ‘A’, and the financial strength ratings of...
Jan 29 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Nationwide Group and its...
Jan 28 2009 // The Hartford Financial Services Group, Inc. today announced that Neal Wolin, president and chief operating officer of the company’s Property and Casualty Operations, has accepted a position in the White House as...
Jan 25 2009 // American International Group Inc. (AIG) named Russell Johnston president and CEO of AIG Environmental, a unit of AIG Commercial Insurance.Johnston joined AIG in 1990 serving in senior management positions within...
Jan 22 2009 // Liberty Mutual Group is throwing in the towel on direct distribution of insurance to middle market businesses. Since it couldn’t beat independent agents and brokers — who dominate sales in this segment —...
Jan 22 2009 // Ironshore Inc. has appointed Steven England as executive vice president responsible for running its newly created U.S. Property/ Casualty underwriting operations based in St. Louis, Missouri.The new unit, Ironshore...
Jan 11 2009 // Top 100 Agency Profile RANKING: No. 7 Agency Name: The Hylant Group Headquarters: Toledo, Ohio Year Founded: 1935 Additional Locations: 11 other offices in Michigan, Indiana, Illinois and Tennessee 2007 Property/Casualty...
Jan 5 2009 // 2008 can be described as a year like no other in the property/casualty insurance world. This year we saw the near death of the world’s largest and most successful insurance company, AIG. The soft market continued to...
Jan 5 2009 // Ask agents and executives in the insurance industry about the new year and they’ll say they expect that the market will harden, at least slightly. In fact, 73 percent of agents predict prices will firm, according to...