All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Apr 23 2014 // Massachusetts Division of Insurance’s last data call showed that the vast majority of insurance claims stemming from the Boston marathon bombing tragedy have been resolved.The data also revealed that among the 160...
Apr 21 2014 // U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability as measured by their rate of return on average...
Apr 15 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 North...
Apr 11 2014 // A bulletin from Fitch Ratings indicates that, based on preliminary analysis, Chile’s insurance industry solvency “will not be affected by the recent Iquique earthquake and tsunami. Chilean property/casualty...
Apr 10 2014 // Insurers have become increasingly competitive and are reducing rates for most accounts as a result of low global insured catastrophe losses and added capacity from non-traditional market sources, according to wholesale...
Apr 7 2014 // A new survey from Towers Watson confirms that more than half (55 percent) of property/casualty insurance chief financial officers believe the property reinsurance market is softer than the primary market, while about...
Apr 7 2014 // Mergers and acquisitions of insurance agencies fell in 2013, with 248 reported transactions in the United States and Canada, according to a new semi-annual survey by OPTIS Partners, an investment banking and financial...
Apr 4 2014 // Rating agency A.M. Best changed the outlook associated with the “A” financial strength rating of the members of the Hartford Insurance Pool to positive from stable Thursday, citing a reduced risk from variable...
Apr 2 2014 // A downward slide in reinsurance prices showed clear signs of accelerating in April contract renewals and is likely to feed through to property/casualty insurance prices before long, broker Willis said this week.Reinsurers...