All the headlines from our Property Casualty Topic Page, ordered by recency.
Mar 7 2008 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit rating on Alleghany Corp. by one notch to ‘BBB’ from ‘BBB+’ and assigned a stable...
Feb 24 2008 // PeopleManaging general agency and surplus lines wholesaler U.S. Risk Insurance Group Inc. named Terri Haselden vice president and manager of the Dallas Commercial Underwriting Department. Haselden, an experienced...
Feb 24 2008 // For years, property casualty (P/C) agencies have been making the jump into offering personal insurance — life, long-term care and disability — as an adjunct to their traditional products. Brokers have realized that the...
Feb 19 2008 // A.M. Best Co. and Standard & Poor’s Ratings Services have taken slightly different views of France’s AXA Group’s agreement to purchase 100 percent of the share capital of the ING Group’s...
Feb 14 2008 // The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended December 31, 2007, of $62.4 million, or $1.00 per fully diluted share, versus net income of $95.4 million, or $1.50 per fully diluted...
Feb 10 2008 // The last few years have been good ones for the property casualty insurance industry in terms of profitability. But it’s been a long time coming, according to Robert Hartwig, president of the Insurance Information...
Feb 10 2008 // Louisiana Workers’ Compensation Corporation hired Michael Page as director of safety and loss prevention.Page previously was director of loss prevention services for Workforce Safety and Insurance in North Dakota and...
Feb 10 2008 // Although it’s been many years since See’s Candies President Brad Kinstler was at the helm of an insurance company, and even longer since he was involved in underwriting and claims handling, he still embodies...
Feb 6 2008 // France’s SCOR Group has received final approval to start operating a Property and Casualty branch in Beijing from the China Insurance Regulatory Commission (CIRC). The endorsement of SCOR’s request to set up a...
Feb 6 2008 // ACE Limited’s earnings report showed a 14 percent drop in fourth quarter net earnings to $572 million, down from $665 million in the same period of 2006. The Company posted Q4 investment losses of $134 million....
Feb 5 2008 // The last few years have been good ones for the property casualty insurance industry in terms of profitability. But it’s been a long time coming, according to Robert Hartwig, president of the Insurance Information...
Feb 1 2008 // CNinsure Inc., a leading independent insurance agency and brokerage company operating in China, is acquiring majority interests in Changsha Lianyi Insurance Agency Co., Ltd. (Lianyi) and Jiangmen Fanhua Zhicheng Insurance...
Jan 31 2008 // Standard & Poor’s Ratings Services has published an article titled, “Property/Casualty Insurance Criteria For Assessing Loss Reserve Adequacy For U.S.-Based Insurers/Reinsurers” on RatingsDirect, its...
Jan 31 2008 // Enforcement actions taken by the Texas Department of Insurance December 2007 resulted in eight license revocations, four license denials, and fines and restitution totaling $1,591,264, the department reported.An order...
Jan 30 2008 // The Munich Re Group announced that it expects a record profit for 2007 of €3.9 billion ($5.77 billion) on the basis of preliminary figures. The amount exceeds the profit guidance of €3.5-3.8 billion ($5.18 to $5.62...
Jan 29 2008 // The Hanover Insurance Group Inc. in Worcester, Mass. reported a rise in earnings for the fourth quarter and last year overall while its chief executive officer expressed confidence the company has “momentum leading...
Jan 27 2008 // Zurich named Kevin Dunham senior vice president and global relationship leader for the western region of its Global Corporate in North America Business unit. Dunham is based in Glendale, Calif., and will manage accounts...
Jan 27 2008 // Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower — although that could quickly worsen if a natural...
Jan 25 2008 // Bermuda-based PartnerRe Ltd. announced that during the January 1 renewal season it expects to write and bind approximately $2.0 billion of Non-Life premium. The figure ” does not include PartnerRe’s Non-Life...
Jan 23 2008 // Swiss Re announced today that Berkshire Hathaway has acquired a three percent stake in the company.Swiss Re has also entered into a reinsurance contract with Berkshire Hathaway which will give it a share of Swiss...