Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
Top 25 Carriers’ Premium Growth Jumps 11.4% Q1 2011 vs Q1 2010
Aug 1 2011 // Property/casualty insurance companies have faced tough economic decisions over the last few years. Experts and analysts have expressed concern over soft pricing exhibited in the underwriting cycle. To avoid the...
Morris Honored with Insurance Council of Texas Raymond Mauk Award
Jul 18 2011 // Dianne Morris, former president of the Association Casualty Insurance Co., was presented with the Raymond Mauk Leadership Award on July 15 at the Insurance Council of Texas’ 19th Annual Mid-Year Property and Casualty...
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Jul 18 2011 // Bob Shepard, board chairman of Shepard Walton King Insurance Group in Harlingen, was installed as president of the Independent Insurance Agents of Texas for 2011-2012 during the association’s annual business meeting...
Ullico Casualty, Philadelphia Partner to Offer Surety to Union Contractors
Jul 11 2011 // Ullico Casualty Group, Inc. and Ullico Casualty Co. have formed a strategic alliance with property and casualty insurance carrier Philadelphia Insurance Cos. The partnership allows Philadelphia to deliver contract and...
People
Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28. David H. Long is now president and CEO. Kelly will continue to serve as chairman of the board of Liberty Mutual Holding...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
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Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28, 2011. David H. Long replaced Kelly as president and CEO. Kelly will continue to serve as chairman of the board of...
Demotech Inc. Identifies 2011 Near National Property/Casualty Insurers
Jul 4 2011 // The original criteria and objective definition for Near National insurance carriers was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one...
Casualty Actuaries Should Consider Foreign Customs, Economics, Politics
Jun 23 2011 // A bulletin from the Insurance Information Institute notes that a recent Casualty Actuarial Society seminar advises actuaries that when it comes to pricing global reinsurance business, it’s important to remember that...
Analysts Debate Outlook for Reinsurance Stocks
Jun 23 2011 // With reinsurance stocks trading below book value, equity analysts basically agree on the factors affecting these stocks but differ on their outlook on the sector. Property/casualty insurance analysts Meyer Shields, analyst...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
A.M. Best Downgrades Springfield Fire & Casualty Ratings
Jun 21 2011 // A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and issuer credit rating to “a-” from “a” of Springfield Fire & Casualty Co. of Springfield, Ill....
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Jun 20 2011 // Iowa-based United Fire & Casualty Co. announced new executive appointments and the election of four new directors for full terms on its 12-member board. Denver Regional Office Underwriting Manager Jolene Grow was...
Catlin Re Switz. to Open Madrid Office; Augments Underwriting Staff
Jun 16 2011 // Catlin Re Switzerland, the continental European reinsurer of the Bermuda-based Catlin Group Limited, announced that as of July 1, 2011, it will underwrite treaty reinsurance business from a new office in Madrid, focusing...
Argus Fire & Casualty Closes its Doors
Jun 9 2011 // Some 9,000 Florida homeowners will have to seek coverage elsewhere after Argus Fire & Casualty Insurance agreed to cancel its policyholders after being taken over by the state. Argus Fire, a wholly-owned subsidiary of...
Best Upgrades State Farm General Insurance Co.’s Ratings
Jun 9 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of State Farm General...
People
Jun 6 2011 // The IMA Financial Group Inc. promoted three in the company’s employee benefits division to vice presidents. Gregg Kamas was promoted to vice president of IMA Financial Group and national practice leader of health...
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Jun 6 2011 // Marsh & McLennan Cos. appointed Daniel S. Glaser to the newly created position of group president and chief operating officer. Glaser previously had been chairman and CEO of Marsh. He will continue to report to Brian...
Best Affirms Travelers and Subsidiaries Ratings
May 27 2011 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of Travelers Group and its property/casualty members, and affiliates,...
Iowa-based United Fire & Casualty Files Reorganization Plan
May 26 2011 // Cedar Rapids, Iowa-based United Fire & Casualty Co. has signed an agreement and filed a reorganization plan with United Fire Group Inc. (United Fire Group), a newly formed subsidiary of United Fire, and UFC MergeCo...
