All the headlines from our Property Casualty Topic Page, ordered by recency.
May 4 2016 // CNA Financial Corp.’s first three months of 2016 produced a mixed bag of results. Fallout from a 2010 agreement to cede asbestos and environmental pollution liabilities to National Indemnity Co. also caused some...
May 3 2016 // A.M. Besthas downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of Financial American Property and Casualty...
May 3 2016 // While the property/casualty industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole reported an underwriting loss for the fifth consecutive year in 2015.In...
May 3 2016 // MS Amlin announced it is now operating as one brand in the Lloyd’s market, as a single managing agency, MS Amlin Underwriting Ltd.Operating from 22 locations across three continents, the MS Amlin business will...
May 2 2016 // American International Group is offering for sale about $1.2 billion worth of shares in China’s PICC Property and Casualty Co. Ltd. (PICC P&C) in a block deal, IFR said on Saturday, citing a term sheet of the...
Apr 29 2016 // The Florida Cabinet has selected David Altmaier to be the state’s new insurance commissioner.Altmaier, 34, is currently a deputy commissioner within the Florida Office of Insurance Regulation. He will replace Kevin...
Apr 29 2016 // Swiss Re AG, the world’s biggest reinsurer, reported lower first-quarter profit as the company bulked up its reserves and pricing in the industry remained under pressure.Net income dropped to $1.23 billion from $1.44...
Apr 27 2016 // Kingstone Companies Inc., a multi-line regional property/casualty insurance holding company based in New York, announced that David Delaney has joined the senior management team at its subsidiary Kingstone Insurance...
Apr 27 2016 // Arkansas Insurance Commissioner Allen Kerr has approved Ohio-based All America Insurance Co. (AAIC) and Central Mutual Insurance Co. (CMIC) to do business in the state.The companies now have the authority to offer...
Apr 22 2016 // United Insurance Holdings Corp. (UPC Insurance), a property/casualty insurance holding company based in St. Petersburg, Florida, announced that it received formal approval from the New York State Department of Financial...
Apr 22 2016 // SCOR Global P&C increased gross written premiums by 4.7 percent at the recent April renewals, based on constant exchange rates, with total premiums rising from €420 million ($474.7 million) to €440 million ($497.3...
Apr 20 2016 // AmTrust Financial Services said it has agreed to buy specialty insurance company ANV Holdings B.V. and its Lloyd’s affiliates for $218.7 million in cash.The seller is the Ontario Teachers’ Pension Plan. As part...
Apr 19 2016 // AXA is targeting the rapidly expanding market for African specialty insurance by partnering with Chaucer, a Lloyd’s specialty insurance group.The new venture, called “AXA Africa Specialty Risks,” will be...
Apr 18 2016 // Swiss Re Americas announced a new structure and leaders for the company’s U.S. property/casualty markets.The changes follow Bill Donnell’s departure as president of Swiss Re Americas’ U.S....
Apr 18 2016 // Direct premium written (DPW) for property/casualty (P/C) insurance companies continues to increase, albeit gradually. At year-end 2014, more than $570 billion of DPW was reported. For 2015, total DPW for all P/C insurers...
Apr 18 2016 // The pricing declines enjoyed by most buyers for several renewal cycles are beginning to slow down, raising the likelihood that companies will experience some price increases in various commercial lines of insurance in the...
Apr 13 2016 // Stocks prices of U.S. property/casualty insurance companies rebounded in fourth-quarter 2015 after a tumultuous third quarter. For 42 U.S. publicly traded P/C stocks analyzed by A.M. Best, the average return for the fourth...
Apr 8 2016 // The pricing declines enjoyed by most buyers for several renewal cycles are beginning to slow down, raising the likelihood that companies will experience some price increases in various commercial lines of insurance in the...
Apr 6 2016 // Alternative capital continues to make its presence felt in the reinsurance market, increasing by 12 percent during 2015 to $72 billion, while traditional capital decreased by 4 percent to $493 billion, according to a...
Apr 5 2016 // AXA Philippines announced it has completed the acquisition of Charter Ping An Insurance Co. for €40 million ($45.6 million) from GT Capital. The acquisition of CPA, the fifth largest non-life insurer in the Philippines,...