All the headlines from our Property Casualty Topic Page, ordered by recency.
Jan 14 2005 // MarketScout reported recently that calendar year 2004 will end with an average 2 percent increase in composite property and casualty premiums. The year began in January 2004 with increases averaging 11 percent, a major...
Jan 6 2005 // Bermuda-based ACE Limited announced that it will strengthen its asbestos, environmental and other run-off reserves and incur a related net, after-tax charge to earnings of $298 million ($1.05 per share) in the fourth...
Jan 6 2005 // ACE Limited announced from its Bermuda headquarters a $298 million reserve strengthening (See related article in “International” section) and some major management changes in its U.S. operations.Brian E. Dowd,...
Jan 4 2005 // Reserve deficiencies, which have plagued property/casualty insurers in recent years, improved dramatically in 2003, according to a new study by Conning Research & Consulting.The Conning Research study,...
Jan 3 2005 // Each year the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. This year, III invited experts...
Jan 2 2005 // The property/casualty insurance industry reported a statutory rate of return on average surplus of 9.5 percent through the first nine months of 2005, marginally below the 10.5 percent average return recorded during...
Dec 31 2004 // AEGON, the Dutch insurance and financial services provider, announced that it has entered into an agreement to sell AEGON Seguros Generales, its general insurance subsidiary in Spain, to Italian mutual insurance company...
Dec 28 2004 // A.M. Best Co. has released a year-end report on the U.S. P/C industry, which indicates that, “despite the colossal hurricane losses posted during the third quarter of 2004,” it “reported very strong...
Dec 28 2004 // MetLife, Inc. has named Catherine A. Rein to the role of chief administrative officer, effective January 1, 2005. Reporting to MetLife, Inc. Chairman and Chief Executive Officer Robert H. Benmosche, Rein will oversee...
Dec 23 2004 // According to a study published today by Standard & Poor’s Ratings Services, the U.S. property/casualty insurance industry has experienced greater ratings stability in 2004, primarily due to improved earnings.The...
Dec 22 2004 // The Arkansas Insurance Department recently issued a reminder to property and casualty insurers operating in the state of the requirement to submit a report to the department concerning companies’ use of credit...
Dec 20 2004 // Texans like to say everything is bigger in Texas, but economist Robert P. Hartwig came to Dallas to explain that big numbers alone aren’t worthy of celebration. The Texas insurance industry, for example, enjoys big...
Dec 20 2004 // Independent agents and brokers in New York see premium rates continuing to increase and coverage choices failing to improve for most lines of property casualty insurance in the state despite industry and press reports to...
Dec 20 2004 // Benefiting from profits on underwriting, the U.S. property/casualty insurance industry’s net income after taxes rose 28.3 percent to $26.7 billion in the first nine months of 2004 from $20.8 billion in the first nine...
Dec 20 2004 // Even with the nearly $21 billion of hurricane-related losses expected to be reflected in the third and fourth quarter results, the nation’s property/casualty insurers are well-capitalized and safely positioned to...
Dec 20 2004 // S&P revised its outlook on Hartford Financial Services Group Inc.’s property and casualty subsidiaries in the Hartford Fire Intercompany Pool to negative from stable.The rating agency noted that legal and...
Dec 15 2004 // Andreas Beerli, Head of Swiss Re’s U.S. P/C business in the Americas, speaking at the company’s annual year-end economic and insurance industry review and outlook, asserted that the P/C reinsurance industry...
Dec 14 2004 // The credit outlook on Australia’s nonlife insurance industry will remain stable in 2005, despite moderation in earnings, according to Standard & Poor’s Ratings Services latest industry report card on...
Dec 10 2004 // Each year the Insurance Information Institute (I.I.I.) invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. The survey reveals...
Dec 10 2004 // ING Canada and Allianz Group have closed their previously announced definitive share purchase agreement for the acquisition by ING Canada of Allianz’ Canadian P/C operations.“Under the terms of the agreement,...