All the headlines from our Property Casualty Topic Page, ordered by recency.
Nov 25 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies. However, in the newly released report,...
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Nov 19 2002 // A new online lead system for helping personal lines property/casualty agents increase production through qualified sales leads is now available at www.homeownersleadsdirect.com.Introduced by California-based iLeads.com,...
Nov 15 2002 // Germany’s Allianz announced that it would report a net loss for the third quarter of 2.5 billion Euros ($2.525 billion) and a net loss of 924 million Euros ($933 million) for the first nine months of 2002 due to a...
Nov 15 2002 // Aon has agreed to sell its Sheffield Insurance Corporation, a specialty property and casualty insurance subsidiary, to Bermuda’s Axis Specialty Limited for an undisclosed price, subject to regulatory approval.Aon had...
Nov 12 2002 // AscendantOne Inc. of Nashua, N.H. announced the launch of Version 2.0 of its Solution Suite property/casualty technology platform.New features include fully automated out-of-sequence endorsement processing, as well as a...
Nov 11 2002 // The Chubb Corporation’s property/casualty subsidiaries’ financial strength ratings of “A++” have been affirmed by A.M. Best Co. Additionally, A.M. Best affirmed the “aa” senior debt...
Nov 11 2002 // For the past several months, Insurance Journal readers have viewed articles discussing Demotech’s Financial Stability Ratings®. This article presents additional information on the origin of those ratings.Prior to...
Nov 11 2002 // A.M. Best Co. downgraded Worcester, Mass.-based Allmerica Financial Corporation’s (AFC) property/casualty operations from “A-” to “B++.” The company’s life and annuity operations were...
Nov 11 2002 // The Chubb Corporation’s property/casualty subsidiaries’ financial strength ratings of “A++” have been affirmed by A.M. Best Co. The outlook for the ratings is stable. Chubb’s superior...
Nov 7 2002 // The U.K.’s Royal & SunAlliance Group announced its nine month results today (see companion article in “International” section) and revealed plans to significantly restructure it U.S. operations.The...
Nov 6 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and financial strength ratings, on Canadian property and casualty insurer Co-operators General Insurance Co....
Nov 4 2002 // The Oklahoma Department of Insurance released the following statement on the work of the DOI’s Property and Casualty Rate Board by John H. Marshall, a member of that board:“Respecting actual insurance premium...
Nov 1 2002 // Standard & Poor’s Ratings Services announced that it has affirmed its single-‘A’ long-term insurer financial strength and counterparty credit ratings on the French mutual insurance group Caisse...
Nov 1 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies.However, in the newly released report,...
Oct 29 2002 // Fitch Ratings has placed all ratings of The Chubb Corporation (Chubb) on Rating Watch-Negative. The ratings include the ‘AA+’ insurer financial strength (IFS) rating of Chubb’s property/casualty insurance...
Oct 29 2002 // SAFECO reported continued earnings growth as third-quarter net income increased to $75.2 million, or $0.59 per diluted share. Income before charges and realized gains increased to $86.4 million, or $0.68 per diluted...
Oct 28 2002 // The U.S. excess and surplus lines market reported a 35 percent increase in direct premium volume in 2001, according to the “Annual Review of the Excess & Surplus Lines Industry-September 2002,” released by...
Oct 28 2002 // The property/casualty industry saw a gain in the number of rating downgrades issued by A.M. Best Co. for the second consecutive year, according to the special report, “Rating Downgrades Outpace Upgrades Despite...
Oct 28 2002 // For the past several months, Insurance Journal readers have viewed articles discussing Demotech’s Financial Stability Ratings®. This article presents additional information on the origin of those ratings.Prior to...