All the headlines from our Property Casualty Topic Page, ordered by recency.
Feb 1 2005 // A.M. Best Co.’s special report on the P/C industry features a tried-and-true warning: “Expect the best, plan for the worst, and prepare to be surprised,” which it points out is “sage advice for an...
Jan 28 2005 // The Hartford Financial Services Group Inc. reported a 37-percent increase in fourth quarter 2004 net income to $620 million, or $2.08 per diluted share, hitting an all-time quarterly record.Net income in the current period...
Jan 24 2005 // Leaders of the property/casualty insurance industry expect the investigations into certain industry practices by state attorneys general and insurance departments will continue to expand in 2005, according to a survey...
Jan 24 2005 // I fear we are entering a period of cyclical amnesia. We are once again setting aside underwriting discipline. Recent market forecasts are projecting deteriorating terms and conditions.In a collection of works titled...
Jan 24 2005 // In a collection of works titled The Life of Reason, the philosopher George Santayana wrote, “Those who cannot remember the past are condemned to repeat it.” There’s now a momentous shift underway in the...
Jan 18 2005 // ACE European Group confirmed that as of Jan.1, 2005 its belgian subsidiary, ACE Insurance S.A. N.V., has successfully transferred its insurance and reinsurance portfolio into ACE European Group Limited (AEG).“ACE...
Jan 18 2005 // Complex and challenging factors have been largely responsible for the high level of uncertainty faced by property and casualty insurers. According to a new survey, given this environment, P/C executives have found it...
Jan 14 2005 // Leaders of the property/casualty insurance industry expect the investigations into certain industry practices by state attorneys general and insurance departments will continue to expand in 2005, according to a survey...
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...