Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AXA’s Q1 Revenues Rise 6%, Led by P/C Business Growth
May 3 2024 // AXA, Europe’s second-largest insurer, reported a 6% increase in total revenue during the first quarter to €34 billion ($36.4 billion), compared with €31.8 billion ($34.1 billion) in Q1 2023. The increase in Q1...
Mission Possible: Top 3 Carrier Innovations in P&C to Restabilize Homeowners Insurance
Apr 16 2024 // This post is part of a series sponsored by AgentSync. As the property and casualty market struggles to find its equilibrium, carriers and reinsurers are retooling their approach to risk and the market. As a Floridian...
2023 Underwriting Losses Improve but Persist in US P/C Industry
Apr 15 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
Inflation Contributes to Rising Loss Costs for US Commercial P/C Insurers: Fitch
Apr 9 2024 // Inflation is bringing rising loss costs for US commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three US insurers — Cincinnati Financial Corp., HCC Insurance Holdings...
Spinnaker Veterans Launch P/C Fronting Carrier With Backing From Bain Capital
Apr 3 2024 // Emerald Bay Risk Solutions has launched as a property/casualty insurance fronting carrier, backed by Bain Capital Insurance and headed by a group of insurance veterans who have fronting experience. Calling itself a...
2023 Underwriting Losses Improve but Persist in US P/C Industry
Mar 26 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
People Moves: Sompo Promotes Allen as CUO of Global Markets Commercial P&C Insurance, Succeeding Easton; BMS Taps Howden’s Leahy as Cyber Practice Co-Leader
Mar 20 2024 // This edition of International People Moves details appointments at re/insurer Sompo and the re/insurance broker BMS. A summary of these new hires follows here. Sompo Promotes Allen as CUO of Global Markets Commercial...
US P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
Mar 7 2024 // Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and...
Allianz Shares Drop on Weak Results in P/C Insurance
Feb 23 2024 // Allianz SE shares fell as the German insurance giant reported earnings in its property-casualty business that missed expectations. Fourth-quarter operating profit in the segment came in at €1.6 billion ($1.7 billion),...
More P/C Carriers With Less Surplus: Aon Ward Analysis
Feb 19 2024 // As we continue into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a December 2023...
DEI: Redefining the Paradigm for the Property/Casualty Industry
Feb 19 2024 // The recent billionaire back-and-forth about diversity, equity and inclusion initiatives is a great opportunity to look at why we’re doing DEI, how we’re doing it — and how we can do it better. Bill Ackman...
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Feb 5 2024 // Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, a report by Swiss Re Institute projects both 2024 and 2025 to have...
Judge Slams Florida’s Universal P&C for ‘Stonewalling’ Court Orders, Demands Answers
Jan 22 2024 // Universal Property & Casualty Insurance Co. officials have downplayed the significance of recent Florida judges’ rulings that have slammed the company for violating court orders, have forced Universal to default...
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Jan 19 2024 // Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, an improvement from 2023, a report by Swiss Re Institute projects...
More P/C Carriers With Less Surplus: Aon Ward Analysis
Jan 11 2024 // As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a mid-December...
P&C People: XS Brokers Expands with Geiss, Kentucky Agents Name New EVP
Jan 10 2024 // The underwriting and wholesale brokerage group known as XS Brokers is expanding into the Southeast and has named Adam Geiss as vice president, based in Charlotte, North Carolina. “Charlotte, a vibrant and growing...
P/C Insurers Responsible for Nearly 7,000 Layoffs in 2023
Jan 3 2024 // U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, cutting at least 6,800 jobs,...
Dyad Brand Launches to the P/C Insurance Market
Jan 2 2024 // Dyad, Inc., formerly XDimensional Technologies and I-Engineering, a provider of insurance software and services backed by Serent Capital, has launched today following XDimensional Technologies’ acquisition of...
US P/C Industry Turns in $32.2B Underwriting Loss After 9 Months
Dec 8 2023 // U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion. The result, highlighted in short financial review from AM Best, is $7.6 billion worse than the same...
AM Best Maintains Stable Outlook for U.S. Property/Casualty Commercial Lines
Dec 6 2023 // Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its “stable” outlook for...
