All the headlines from our Property Casualty Topic Page, ordered by recency.
Mar 6 2014 // United Insurance Holdings Corp., a property and casualty insurance holding company know as UPC Insurance, reported the closing of its previously disclosed $57.5 million underwritten public offering of 4,600,000 shares of...
Mar 5 2014 // Even though State Farm’s auto businesses suffered a loss in 2013, the property/casualty companies reported a $230 million underwriting gain, State Farm reported.The $230 million gain of $230 million on earned premium...
Mar 5 2014 // Arthur J. Gallagher & Co. announced the acquisition of Tudor Risk Services, LLC located in Woburn, Mass. Terms of the transaction were not disclosed.Founded in 2009, Tudor Risk Services is a retail insurance broker...
Mar 4 2014 // Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings.The severe winter weather from Jan. 1...
Mar 3 2014 // Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the 11th year in a row with...
Feb 28 2014 // Erie Indemnity Company, the management company for Erie Insurance, reported $36 million net income for its 2013 fourth quarter, up 20 percent from $30 million reported during the prior-year fourth quarter. The full-year...
Feb 27 2014 // UK specialist insurance and reinsurance broker Miller Insurance Services LLP announced that it is combining its property and casualty specialists into one business area headed by Ken MacDonald.Miller said the new structure...
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult.That’s according to the latest...
Feb 26 2014 // Along with its ratings announcement for the AFG Group, A.M. Best also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of National Interstate...
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...