All the headlines from our Property Casualty Topic Page, ordered by recency.
Mar 16 2020 // Lighthouse Property Insurance Corp. plans to acquire its sister carrier, Prepared Insurance Company (Prepared), from Prepared Holdings Group.Lighthouse is a Louisiana-domiciled property and casualty insurance carrier...
Mar 13 2020 // Despite a sharp decline in M&A activity in 2019 and continuing economic uncertainty, more than half of the property/casualty insurance executives surveyed by Deloitte still expect to complete an M&A transaction in...
Mar 10 2020 // Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report.Underwriting income hit $4.1 billion in 2019, from a loss of $800 million in...
Mar 10 2020 // AM Best has downgraded the Financial Strength Rating (FSR) to B- (Fair) from B (Fair) and the Long-Term ICR to “bb-” from “bb” of Echelon Property & Casualty Insurance Co., based in Chicago.AM...
Mar 9 2020 // The coronavirus (COVID-19) outbreak is not currently anticipated to have a meaningful adverse impact on financial results reported by U.S. property/casualty companies, nor their ratings, according to Fitch Ratings.The...
Mar 3 2020 // The coronavirus (COVID-19) outbreak is not currently anticipated to have a meaningful adverse impact on financial results reported by U.S. property/casualty companies, nor their ratings, according to Fitch Ratings.The...
Mar 2 2020 // The private equity bandwagon continued to roll through the insurance agency and brokerage mergers and acquisitions territory in 2019. As many as two-thirds of all deals involved private equity, according to experts. Most...
Feb 27 2020 // Trieste, Italy meet Columbus, Ohio. Ciao! Hello!Two large insurers — Ohio’s Nationwide and Italy’s Generali — are teaming up to serve commercial insurance customers with global needs. The insurers announced...
Feb 27 2020 // J.M. Wilson has added Kim Pov as an assistant property/casualty underwriter in its Madison, Wisconsin, office.Pov is responsible for assisting underwriters on a wide variety of property and casualty risks, as well as...
Feb 24 2020 // Full-year insurance results at Berkshire Hathaway disappointed in 2019, with after-tax earnings from underwriting falling to $325 million in 2019 compared to $1.6 billion in 2018.Earnings from primary insurance operations...
Feb 24 2020 // San Francisco, CA, February 20, 2020 – In an effort to meet the younger generation where they are – on their computers and phones –Spark Online Events, a division of Direct Connection Advertising & Marketing,...
Feb 21 2020 // Healthcare liability insurer ProAssurance Corp. has agreed to acquire medical professional liability insurer NORCAL Mutual Insurance Co. following NORCAL’s demutualization in a $450 million transaction.Based on...
Feb 21 2020 // SterlingRisk Insurance, a Woodbury, N.Y.-based independently owned insurance brokerage, has hired Kaitlin Friedman as alternative market leader. A licensed property and casualty insurance broker, Friedman also provides...
Feb 18 2020 // Swiss Re’s iptiQ and IKEA announced the launch of HEMSÄKER, home insurance that provides accessible protection at an affordable price, said Swiss Re in a statement.HEMSÄKER, which can be purchased online via the...
Feb 18 2020 // The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty...
Feb 14 2020 // Global reinsurer SCOR said it has acquired a majority stake in AgroBrasil, an MGA focused on distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers.Neither side disclosed...
Feb 13 2020 // American International Group reported fourth quarter 2019 net income of $922 million compared to a net loss of $622 million in the prior-year quarter. The results reflected improvement in its closely-watched General...
Feb 11 2020 // NFP, the New York City-based insurance broker and consultant, announced the acquisition of Indemnis Trade Risk Management Ltd.Financial details of the transaction, which closed on Dec. 10, 2019, were not disclosed....
Feb 11 2020 // Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As...
Feb 10 2020 // Axa has confirmed earlier reporting that it has agreed to sell its its operations in Poland, Czech Republic and Slovakia to Austria’s Uniqa Insurance Group.Axa will sell 100% of its life and savings,...