All the headlines from our Property Casualty Topic Page, ordered by recency.
Mar 1 2006 // The National Association of Mutual Insurance Companies (NAMIC) – which has more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States...
Feb 26 2006 // Hurricane losses and loss adjustment expenses totaling $6.3 billion (after reinsurance) contributed to a reduction in State Farm’s 2005 net income. The company is reporting an after-tax net income from all sources of...
Feb 19 2006 // Hallmark, Texas General AgencyHallmark Financial Services Inc. completed its previously disclosed acquisition of Texas General Agency Inc. and certain affiliates. TGA is a managing general agency involved in the marketing...
Feb 19 2006 // PeopleEncino, Calif.-based NAS Insurance Services has appointed Richard Robin president. He will be responsible for overall operations, including underwriting, marketing and administration. Ed Robin will continue to serve...
Feb 17 2006 // Fitch Ratings has affirmed the ‘BBB-‘ long-term issuer rating and ‘BBB-‘ senior debt ratings of CNA Financial Corporation (CNA) and the ‘A-‘ insurer financial strength (IFS) ratings of...
Feb 16 2006 // CNA Financial Corporation reported fourth quarter of 2005 results, which included the following items:* Net loss for the fourth quarter of 2005 of $217 million as compared with net income of $303 million for the same...
Feb 15 2006 // In a recent report- “Insurance Industry Risk Analysis: Spain (Kingdom of)” – Standard & Poor’s predicted further growth in the Spanish economy and indicated that the “current relatively...
Feb 14 2006 // The Hartford Financial Services Group Inc. reported that Andrew Pinkes has been named president of Heritage Holdings Inc., a unit which oversees the company’s property and casualty run-off operations. Pinkes, who is...
Feb 14 2006 // Agency Specialty Product Network has joined with LifeSource – a BISYS Company to provide independent property and casualty agents and brokers a “virtual” life insurance department to enhance sales,...
Feb 14 2006 // Driven by the largest natural catastrophe in U.S. history, Hurricane Katrina, the U.S. property/casualty industry’s underwriting loss was $2.8 billion for the first nine months of 2005, reversing the $3.4 billion...
Feb 13 2006 // Bermuda-based reinsurer Max Re Capital Ltd. reported a net loss for the three months ended December 31, 2005 of $11.4 million, or 20 cents per diluted share, compared to net income of $87.1 million, or $1.82 per diluted...
Feb 9 2006 // California’s Conservation and Liquidation Office (CLO) will distribute $530 million to policyholders and claimants from the liquidated estate of the Mission Insurance Companies, California Insurance Commissioner John...
Feb 9 2006 // Those new to property and casualty insurance are reportedly first struck by the cyclical nature of the industry.Generally, extended periods of soft pricing are followed by much shorter periods of hard pricing. After three...
Feb 6 2006 // Atlanta-based Crawford & Company has announced its financial results for the fourth quarter ended December 31, 2005. Fourth quarter 2005 revenues before reimbursements totaled $216.9 million compared with $205.8...
Feb 6 2006 // Insurers are cultivating California’s economy. In fact, the insurance industry benefits “the economic security of California and its citizens through claims and benefits paid to policyholders; investments in...
Feb 6 2006 // Last year was not a big year for raises in independent insurance agencies as salaries in many agencies across the county stayed right where they were in 2004. Producer commission rates stayed the same also.More than 1,000...
Feb 5 2006 // PeopleUnited America Indemnity Ltd.’s board of directors has selected Joseph F. Morris as its president. The company will also consolidate its two U.S. insurance subsidiaries, United National Group and Penn-America...
Feb 5 2006 // I nsurers are cultivating California’s economy. In fact, the insurance industry benefits “the economic security of California and its citizens through claims and benefits paid to policyholders; investments in...
Feb 5 2006 // Stock Prices: In terms of stock prices for property and casualty brokers, the year was mixed. With its stock up 54 percent, Aon experienced a remarkable year. However, Marsh and McLennan’s woes continued as its stock...
Feb 5 2006 // Last year was not a big year for raises in independent insurance agencies as salaries in many agencies across the county stayed right where they were in 2004. Producer commission rates stayed the same also.More than 1,000...