All the headlines from our Property Casualty Topic Page, ordered by recency.
Jun 2 2014 // A.M. Best has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of State Farm General Insurance Company, and...
Jun 2 2014 // About 600 small mutual property/casualty insurers serving rural communities would get a tax break under federal legislation filed last month in Congress.Introduced by Reps. Erik Paulsen, R-Minn., Ron Kind, D- Wis., and...
May 29 2014 // The federal terrorism risk insurance backstop, in place in one form or another since 2002, will likely be reauthorized by Congress, and in the absence of a major catastrophe — man-made or otherwise — the current...
May 29 2014 // American International Group Inc., the largest commercial insurer in the U.S. and Canada, is shifting workers to locations including the Philippines and Texas to reduce costs.“We’re talking several thousand...
May 28 2014 // United Insurance Holdings Corp. (UPC Insurance Co.) has terminated its bid to acquire financially-troubled Sunshine State Insurance Co. (SSIC), a Florida property/casualty insurance company.UPC’s intent to rescue...
May 27 2014 // A.M. Best has upgraded the financial strength rating (FSR) to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “aa+” from “aa” of the...
May 20 2014 // The property/casualty industry’s loss reserve position is slightly improved as of year-end 2013, according to Conning.“Overall, the industry continues to appear to have sufficient reserves, with a modest degree...
May 19 2014 // May 19, 2014 – Denver, CO – OnPoint Underwriting (OnPoint) and Everest Re Group, Ltd. (NYSE:RE) announced a new relationship with Everest Reinsurance Accident and Health for the underwriting and management of HMO...
May 19 2014 // FrankCrum, a national professional employer organization, added Rodney Vaughn as broker manager, responsible for increasing the company’s presence in Texas, and forging relationships with insurance agents and...
May 16 2014 // United Insurance Holdings Corp. (UPC) has agreed to acquire 100 percent of Sunshine State Insurance Co. (SSIC), a Florida domiciled property/casualty insurance company.SSIC, based in Jacksonville, Fla., offers homeowners,...
May 12 2014 // Nationwide reported total operating revenue of $6.1 billion for the first three months of 2014, up 5 percent over the same period last year and steady compared to fourth quarter 2013.First quarter operating earnings were...
May 12 2014 // About 600 small mutual property/casualty insurers serving rural communities would get a tax break under federal legislation filed last week in Congress.Introduced by Reps. Erik Paulsen, R-Minn., Ron Kind, D- Wis., and...
May 8 2014 // Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, has hired Brian Cone to join its Property & Casualty practice. Cone will be based in Birmingham. Cone’s former...
May 7 2014 // Swiss Re reported group net income of $1.226 billion for the first quarter of 2014, compared to $1.38 billion in the first quarter of 2013. The bulletin noted that the 11 percent drop should be seen in light of the...
May 6 2014 // Global insurer American International Group Inc. (AIG) reported net income of $1.6 billion for the first quarter, a 27 percent drop compared to $2.2 billion for the first quarter of 2013.After-tax operating income was $1.8...
May 5 2014 // Berkshire-Hathaway’s primary property/casualty operations recorded double-digit gains in premiums and pre-tax earnings in the first quarter, but P/C reinsurance results contributed to a 6.6 percent drop in operating...
May 5 2014 // Today’s challenges are also tomorrow’s opportunities depending on the viewpoint. Those same opportunities could also remain tomorrow’s challenges. This special report highlights 10 current workers’...
May 2 2014 // XL Group plc announced that XL Insurance (Bermuda) Ltd has entered into a definitive agreement to sell its wholly-owned subsidiary, XL Life Reinsurance (SAC) Ltd (XLLR), to GreyCastle Holdings Ltd. for $570 million in...
Apr 30 2014 // ACE Limited report first quarter, 2014 net income of $734 million, compared to $953 million in Q1, 2013. The decrease came from the capital gain/loss side of the ledger. ACE posted a $207 million capital gain in Q1, 2013,...
Apr 29 2014 // Hartford Financial Services Group Inc. weathered a tough winter to achieve its third straight quarterly profit with first-quarter net income of $495 million, compared to a $241 million loss for the first quarter last...