All the headlines from our Property Casualty Topic Page, ordered by recency.
Feb 26 2014 // A.M. Best has upgraded the issuer credit rating (ICR) to “a-” from “bbb+” and the debt ratings of American Financial Group, Inc. (AFG). Best has also upgraded the financial strength rating (FSR) to...
Feb 24 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best.The industry managed its way to a nearly 60...
Feb 21 2014 // Arthur J. Gallagher & Co. has acquired Kent, Kent & Tingle, a retail insurance broker based in Shreveport, La. Terms of the transaction were not disclosed. Founded in 1989, Kent, Kent & Tingle (KK&T)...
Feb 21 2014 // The property/casualty insurance industry is likely to face cost shifting by hospitals, physicians and other medical providers due to the Patient Protection and Affordable Care Act (ACA), according to an insurance industry...
Feb 21 2014 //
Feb 21 2014 // AXA SA, Europe’s second-largest insurer, posted a 10 percent increase in 2013 profit on higher earnings at its life and savings and property and casualty divisions.Net income rose to €4.48 billion ($6.15 billion)...
Feb 20 2014 // Swiss Re posted net income of $4.4 billion for 2013. The earnings report said the “result was driven by sustained, high profitability in Property and Casualty Reinsurance and very good performances by Corporate...
Feb 14 2014 // American International Group Inc. Chief Executive Officer Robert Benmosche is increasing returns for shareholders as he targets job cuts to simplify the firm.AIG boosted its quarterly dividend by 25 percent to 12.5 cents a...
Feb 12 2014 // Kemper Corp. is realigning its property & casualty business. This realignment will result in one property & casualty segment for financial reporting purposes, beginning with the first quarter 2014.The new Kemper...
Feb 11 2014 // Chicago-based insurer CNA Financial Corp. plans to sell a wholly owned life insurance subsidiary to Wilton Re Holdings Ltd. for about $615 million as it continues to focus more on its property/casualty business.CNA said...
Feb 10 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best.The industry managed its way to a nearly 60...
Feb 10 2014 // CNA Financial Corp. said it is selling its life and group insurance business, Continental Assurance Co., to a subsidiary of Wilton Re Holdings Ltd.CNA said it expected net proceeds of about $615 million from the sale and a...
Feb 10 2014 // A top official from New York State’s Department of Financial Services (DFS) recently spoke about the state’s property/casualty insurance markets, calling it overall very good but “a bit more of a mixed...
Feb 7 2014 // France’s SCOR Group confirmed that the reinsurer “booked 8 percent gross written premium growth (at constant exchange rates) for the full year 2013, to €4.85 billion [$6.58 billion]. SCOR Global P&C also...
Feb 6 2014 // Cowles & Connell of N.J. announced the addition of Darren Dooskin to the position of associate vice president and property/casualty broker. Dooskin will be responsible for the marketing and production of...
Feb 6 2014 // Universal Property & Casualty Insurance Co. (UPCIC), headquartered in Florida, has applied to expand into Indiana, Minnesota and Delaware. UPCIC is one of the leading writers of homeowners insurance in Florida and a...
Feb 6 2014 // XL Group announced a good fourth quarter and an excellent year from its Dublin headquarters.Highlights for the two accounting periods were listed as follows: • Operating net income of $286.9 million, or $1.00 per share,...
Feb 4 2014 // Hartford Financial Services Group Inc., now focusing on property/casualty coverage, posted a profit in the fourth quarter as catastrophe costs fell.Net income was $314 million, or 65 cents a share, compared with a loss of...
Feb 4 2014 // Florida-based Universal Property & Casualty Insurance Co. (UPCIC) has applied to expand into Indiana, Minnesota and Delaware. UPCIC is one of the leading writers of homeowners insurance in Florida and a fully licensed...
Jan 31 2014 // Chubb Corp., the insurer of corporate boards and high-end homes, said profit surged as margins improved a year after Superstorm Sandy.Fourth-quarter net income rose to $569 million, or $2.24 a share, from $102 million, or...