All the headlines from our Property Casualty Topic Page, ordered by recency.
Nov 30 2000 // Eight Massachusetts insurance companies have opted out of a state program that promises permanent tax cuts in exchange for five years of voluntary community investment, according to a report by the Massachusetts...
Nov 27 2000 // Equipment breakdown coverage: it’s the modern-day descendant of what has been traditionally referred to as boiler and machinery insurance. And today’s businesses need it just as much as they did in the old...
Nov 27 2000 // Property/casualty rates for small, medium and large commercial lines continued to rise between July 1 and Sept. 30, according to the Council of Insurance Agents and Brokers’ (CIAB) Commercial Insurance Market Index...
Nov 27 2000 // The FSR of the core insurance subsidiaries of Citigroup Inc. were raised from “A+” to “A++” by A.M. Best. The rating is applicable to the 20-member Traveler’s property/casualty pool, led by...
Nov 27 2000 // According to Michael Camilleri, president and CEO of Amtrust Insurance Operations, Amtrust Financial Group signed a definitive agreement on Nov. 20 to purchase the insolvent Credit General Insurance Company. Credit...
Nov 27 2000 // As part of a cost-cutting initiative, Santa Monica, Calif.-based Fremont General Corp. has reduced the production and claim service offices of Fremont Compensation Insurance Group from 41 to 24. Of these remaining offices...
Nov 20 2000 // Property/casualty rates for small, medium and large commercial lines continued to rise between July 1 and Sept. 30, according to The Council of Insurance Agents and Brokers’ Commercial Insurance Market Index for the...
Nov 14 2000 // American Financial Group Inc. (AFG) announced a $10.8-million loss ($.18 per share) for third quarter 2000. The loss includes $22.8 million, after-tax ($.39 per share), for strengthening the loss reserves of its California...
Nov 14 2000 // Fremont General Corp.reported net income of $10,936,000 for the third quarter of 2000, comprised of net income from continuing operations of $6,272,000 and an after tax gain on the extinguishment of debt of $4,664,000. The...
Nov 13 2000 // The excess and surplus lines, or non-admitted, market is comprised of property & casualty companies that provide insurance that is unavailable to businesses in the standard, or admitted, market due to the unique...
Nov 13 2000 // After taking a small step backward last quarter with disappointing results, Seattle-based Safeco reported better-than-expected earnings for the third quarter of 2000. According to Boh Dickey, president and chief operating...
Nov 6 2000 // eStellarNet, a leading automated transaction processor for the property and casualty industry, has raised $30 million in financing led by Capital Z Financial Services Fund II, a global private equity fund focused on the...
Nov 6 2000 // Insurance Dot-Coms Shift Increasingly Toward the AgentIn the fast-paced environment of Internet insurance, any attempt to define trends and categorize business models on the information highway can be an exercise in...
Nov 3 2000 // Another round of consolidation is shaping up in the Japanese insurance industry with the announcement that Yasuda Fire & Marine Ins. Co., Nissan Fire & Marine Ins. Co. and Taisei Fire & Marine Ins. Co. are...
Nov 1 2000 // The last four years have been a period of financial growth and agent consolidation, according to the 2000 Agency Universe Study, a study of the independent agency system conducted by Future One, a cooperative effort of the...
Nov 1 2000 // The Hartford Financial Services Group has announced a 30 percent increase in core earnings per diluted share for the third quarter 2000. The increase is reportedly driven by asset growth in the company’s life...
Oct 27 2000 // Following a review of its New Zealand p/c business, CGNU, the U.K.’s largest insurer, announced plans to sell its affiliate State Insurance and concentrate its efforts on New Zealand Insurance (NZI), its life...
Oct 25 2000 // The St. Paul Companies has expanded its operations to New Zealand by opening an office in Auckland. The company will conduct business as St. Paul International Insurance Co., Ltd., a branch of The St. Paul’s...
Oct 24 2000 // Royal & SunAlliance (RSA) became the first foreign company to receive a license to write p/c insurance from India’s Insurance Regulatory and Development Authority (IRDA) with its partner Sundaram Finance Ltd.,...
Oct 23 2000 // Nippon Life Insurance Co., Japan’s largest, was reportedly holding talks with Mitsui Marine & Fire Insurance Co., its 3rd largest p/c insurer and Sumitomo Marine & Fire Insurance Co., its 5th largest, in an...