All the headlines from our Property Casualty Topic Page, ordered by recency.
Feb 13 2025 // This edition of International People Moves details appointments at the broker BMS and the managing general agent DUAL UK.A summary of these new hires follows here. BMS Taps Howden Re’s Biddell as Managing Director...
Feb 6 2025 // Thirteen U.S. property/casualty companies became impaired in 2023, 10 of which were placed into insolvent liquidation, according to an AM Best report.The insurance company impairments identified in the U.S....
Jan 31 2025 // The Pennsylvania Insurance Department (PID) reported that in 2024 it refused to approve $180.3 million in annual property/casualty (P/C) insurance premium increases in the state through its rate review processes.The PID...
Jan 29 2025 // Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8% during the last quarter of 2024.Fourth quarter net income was down 22% to about $2.6 billion compared to the same period a year ago,...
Jan 17 2025 // The “gap is closing” between commercial lines and personal lines underwriting results as the insurance industry overall is expected to continue its run of premium growth and improved underwriting results over...
Jan 15 2025 // This edition of International People Moves details appointments at Lockton Re and Westfield Specialty International.A summary of these new hires follows here. Lockton Re’s International P/C Division Appoints Moruzzi...
Jan 7 2025 // Moody’s Ratings changed the sector outlook for the global property/casualty insurance industry to stable from negative last month, pointing to personal lines price hikes in the U.S. and UK as a reason for the...
Dec 12 2024 // U.S. property/casualty insurers are positioned favorably heading into 2025, Fitch Ratings forecasted in its annual outlook report.Citing “a strong personal lines turnaround” and “resiliency following an...
Dec 4 2024 // Growth in net earned premiums outpaced a slight increase in losses and loss adjustment expenses to result in the U.S. property/casualty industry posting a nine-month 2024 underwriting profit of $4.1 billion versus a loss...
Nov 5 2024 // Swiss Re has agreed to sell iptiQ’s European P&C business to Allianz Direct, in line with its strategic decision to withdraw from iptiQ.Allianz Direct, the pan-European online insurer of Allianz Group, will take...
Oct 25 2024 // As the third-fastest growing company on a list of the world’s top 50 largest insurers, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market...
Oct 10 2024 // S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings.In a report...
Oct 8 2024 // U.S. property and casualty insurance stocks tanked on Monday after Hurricane Milton intensified into a category 4 storm on its path towards Florida’s western coast, marking yet another costly disaster for the...
Oct 2 2024 // The International Longshoremen’s Association (ILA) went on strike on Tuesday, Oct 1. The strike is expected to affect more than 20 ports along the Eastern Seaboard and Gulf Coast, including the ports of New York and...
Sep 27 2024 // This edition of International People Moves details appointments at AXA XL Bermuda, the tech risk platform Intangic, and the Lloyd’s insurer Dale Underwriting Partners.A summary of these new hires follows here. AXA XL...
Sep 27 2024 // Axis Insurance Managers Inc., the Vancouver, Canada-based insurance broker, announced the acquisition of Baker Insurance, a property/casualty brokerage based in Calgary.Financial details of the deal were not disclosed....
Sep 17 2024 // A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new report from AM...
Sep 16 2024 // The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report.“After years of consistent losses,...
Sep 12 2024 // JM Wilson, headquartered in Portage, Michigan, hired Savana Musolf and Lisa Hudson as assistant property and casualty underwriters.Musolf works with independent insurance agents and company underwriters in Michigan and...
Sep 12 2024 // For the sixth straight year, U.S. excess and surplus insurers in 2023 saw double-digit growth in direct written premiums.E&S direct written premiums (DWP) grew 15% last year to increase its share of the total...