All the headlines from our Property Casualty Topic Page, ordered by recency.
Sep 26 2019 // AM Best-rated farm bureaus within the U.S. property/casualty (P/C) insurance segment have experienced steady growth in net premiums written (NPW) in the past decade, unlike their life/annuity (L/A) counterparts, which have...
Sep 25 2019 // Ratings agency AM Best has upgraded the Financial Strength Rating (FSR) to B- (Fair) from C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb-” from “b+” of First Chicago...
Sep 24 2019 // Demand for surplus lines insurance rose dramatically in 2018 and is continuing to expand this year, so much so that some in the sector are feeling a bit overwhelmed.The excess and surplus lines sector is enjoying its...
Sep 23 2019 // Jean-Paul Conoscente became the CEO of SCOR Global P&C in April 2019 when his predecessor, Victor Peignet, retired after 35 years with the company. Before Peignet left the company, he offered Conoscente a sage piece of...
Sep 23 2019 // There are several things that keep SCOR’s Jean-Paul Conoscente awake at night. Climate change is one of them; cyber risk is another. Only time will tell whether these risks are actually insurable, cautions...
Sep 20 2019 // When Louisiana voters go to the polls on Oct. 12, they will have a choice between two Republican opponents in the race for insurance commissioner: current commissioner, Jim Donelon, a former state legislator who has held...
Sep 20 2019 // EPIC Insurance Brokers and Consultants has added Lionel Bejean to the firm’s Greyling Division, based in Alpharetta, Ga., as senior vice president.In his new position, Bejean will be responsible for serving the risk...
Sep 19 2019 // The Society of Insurance Research (SIR) will hold their 49th Annual Conference on October 20th – 22nd at the Sheraton Charlotte Hotel in Charlotte, NC and I am thrilled to be attending. The theme for this year’s...
Sep 16 2019 // Demand for surplus lines insurance rose dramatically in 2018 and is continuing to expand this year, so much so that some in the sector are feeling a bit overwhelmed.The excess and surplus lines sector is enjoying its...
Sep 12 2019 // SOBC DARAG has acquired New Mexico P&C Insurance Co. SOBC DARAG has received approvals from New Mexico OSI and Florida OIR for the transaction. Terms of the deal weren’t disclosed. SOBC DARAG Holdings is...
Sep 10 2019 // Extended development from North American hurricane losses and losses from non-peak perils like California wildfires have finally jolted reinsurers out of a soft reinsurance market, according to a report from reinsurance...
Sep 6 2019 // Starr Insurance Cos. has named Dr. Haoming Zhou as general manager and president of Starr China Property and Casualty Insurance Ltd.Zhou has more than 20 years of insurance industry experience. Prior to joining Starr, he...
Sep 4 2019 // Arkansas Insurance Commissioner Allen Kerr has approved five new insurance companies to operate in the state, bringing to 103 the number of new insurance companies approved since January 2015, according to the Arkansas...
Sep 2 2019 // The U.S. property/casualty industry’s net underwriting income declined by 9.6% to $4.8 billion in the first half of 2019, compared with $5.3 billion in the same prior-year period, A.M. Best reports.Also, ongoing...
Aug 27 2019 // The Board of Directors of FedNat Holding Company, an insurance holding company, has selected David Michelson and David Patterson as candidates to serve on the board as new, independent directors.As soon as their...
Aug 26 2019 // The U.S. property/casualty industry’s net underwriting income declined by 9.6% to $4.8 billion in the first half of 2019, compared with $5.3 billion in the same prior-year period, A.M. Best reports.Also, ongoing...
Aug 23 2019 // Allianz has agreed to acquire automobile and other property/casualty insurance operations from Brazil’s SulAmérica for BRL 3 billion (667 million euros).Allianz said the acquisition will strengthen its competitive...
Aug 19 2019 // Businesses and organizations paid nearly two percent more in 2018 than they did in 2017 to cover the total cost of risk.Reversing the trend of falling average TCOR per $1,000 of revenue seen from 2013 to 2017, average TCOR...
Aug 19 2019 // This year marks the 13th year of the Demotech Company Classification System, which was established in the Feb. 12, 2007, issue of Insurance Journal. The system categorizes insurers into one of 11 categories based on an...
Aug 8 2019 // American International Group (AIG) President and CEO Brian Duperreault has insisted that the insurer’s General Insurance unit will produce an underwriting profit for all of 2019, after a decade of losses. His promise...