Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
Hamilton Appoints AXA XL’s Scully as Head of Casualty Insurance in Bermuda
Jan 19 2021 // Hamilton Insurance Group Ltd. announced the appointment of Elaine Scully as senior vice president, head of Casualty Insurance in its Bermuda company, Hamilton Re Ltd. Scully will report to Tim Duffin, chief underwriting...
Willis Towers Watson Adds Shanghai to Global Markets Property/Casualty Hub
Jan 14 2021 // Willis Towers Watson, the global advisory, broking and solutions company, announced the addition of Shanghai to its global property and casualty hub, aimed at enhancing the company’s global placement model for...
TigerRisk Names Ridpath a Partner in Casualty Practice
Jan 6 2021 // Broker/adviser TigerRisk announced it has appointed Glyn Ridpath a partner in the company’s fast-growing Casualty Practice. Based in London, he will report to James Few, TigerRisk’s CEO UK. Ridpath started his...
Outlooks Revised to Negative for Iowa’s United Fire Group, Property/Casualty Subs
Dec 21 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the property/casualty...
Credit Ratings of Chicago’s Echelon Property & Casualty Insurance Downgraded
Dec 10 2020 // AM Best has downgraded the Financial Strength Rating to C+ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b-” from “bb-” of Echelon Property & Casualty Insurance Co....
Kemper to Acquire American Access Casualty in Illinois for $370M
Nov 23 2020 // Specialty insurer, Kemper Corp., has agreed to acquire American Access Casualty Co, and its related captive insurance agency, Newins Insurance Agency Holdings LLC, and its subsidiaries (collectively “AAC”). AAC...
How Lloyd’s Underwriters Are Viewing Today’s U.S. Casualty Insurance Environment
Nov 19 2020 // Today’s Lloyd’s of London market for casualty insurance is marked by rising prices, reduced capacity, and buyers embracing more self-insurance, according to underwriters at Lloyd’s. It is also marked by...
Prime Property & Casualty Insurance Inc. Successfully Resolved Trucking Case in Florida Jury Verdict of Just Under $412M
Nov 17 2020 // Chicago, IL, November 13, 2020 – Prime Property & Casualty Insurance Inc. (“PPCI”) successfully resolved a trucking case that went to jury trial in Florida resulting in a jury verdict of just under...
Kevelighan: Talks with Institutes on Creating 21st Century Triple III Began Years Ago
Nov 16 2020 // Affiliating with The Institutes provides an opportunity for the industry’s Insurance Information Institute (III) to become more of a 21st Century trade association, rather than one suited for the 1950s, according to...
13 New U.S. Property/Casualty Insurer Impairments in 2019
Nov 16 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Everest Insurance Promotes Wu to E&S Excess Casualty National Leader
Nov 13 2020 // Everest Insurance announced that Edward Wu has been promoted to the role of vice president and national leader, Excess & Surplus Excess Casualty. In this role, Wu will be responsible for strategy, underwriting...
Applied Underwriters Announces Formation of Applied Specialty Underwriters, Names Christopher Day President of the New Company
Nov 5 2020 // Applied Specialty Underwriters will concentrate on Casualty E&S markets nationwide, initially focusing on New York construction risks. Omaha, NE, November 5, 2020 — Steve Menzies, CEO of Applied Underwriters,...
AIG’s Plan to Divest Life & Retirement Business Could Prompt Ratings Downgrades
Nov 2 2020 // American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance...
AIG Names Zaffino to Succeed Duperreault as CEO; Will Spin Off Life Insurance Business
Oct 26 2020 // American International Group has disclosed significant leadership changes as well as plans to separate its Life & Retirement business into an independent company. Peter Zaffino, currently AIG’s president and...
Chubb Names Forman from Swiss Re as Casualty Manager for UK and Ireland
Oct 21 2020 // Chubb announced the appointment ofAlex Forman as casualty manager for the United Kingdom and Ireland (UK&I). In this role, Forman will be responsible for the profitability and growth of Chubb’s UK&I casualty...
10 Things to Know About Habitational Properties
Oct 19 2020 // After years of losses in the multifamily habitational market, insurers have become far more cautious for both property and casualty coverages, cutting back capacity or even leaving the market altogether. Rates and...
What Ever Happened to Hedge Fund Reinsurers?
Sep 25 2020 // The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of...
Welcome to Insurance Journal’s annual Top 20 Agency Partnerships report. This report is ranked by total property/casualty revenue for 2019.
Sep 21 2020 // Today’s Agency Partnerships are numerous and offer value and benefits to their members, including independence, growth opportunities, access to markets, profit sharing, perpetuation planning, relationships,...
Some Reinsurers Will Try Pandemic Exclusions for Casualty at Jan. 1 Renewals
Sep 18 2020 // Whether they are convinced that they absolutely need them or not, some reinsurers aim to try to put pandemic exclusions into casualty reinsurance contracts next year, a reinsurance broker representative revealed...
Moody’s Says Property/Casualty Insurers Face Significant Losses from Western Wildfires
Sep 17 2020 // Dozens of wildfires raging in California, Oregon, Washington and other Western states have resulted in loss of life, damaged or destroyed about 9,657 homes and commercial structures and burned more than 5 million acres,...
