Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter
Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...
Reinsurers Wary of Low Returns, Reserving Trends, Storms to Come
Jun 23 2008 // Two consecutive years of record earnings in the property and casualty insurance industry driven by lower catastrophe losses and healthy investment returns, along with unforeseen risks brought on by the subprime mortgage...
People
Jun 16 2008 // Thomas F. Motamed has stepped down as vice chairman and chief operating officer for The Chubb Corp. to become chairman and chief executive officer of CNA Financial Corp., a position he will assume as of June 8,...
Jun 16 2008 // People Dallas-based Colemont Insurance Brokers promoted Su Young to vice president in Colemont’s Texas office. Young joined Colemont in 2001 as part of the Texas financial services team and is located in Houston. She...
People
Jun 16 2008 // Golden Eagle Insurance, a Liberty Mutual Agency Markets regional company, appointed Pete McPartland president and CEO. McPartland comes from General Casualty in Sun Prairie, Wis., where he led insurance operations for QBE...
Super Regional P/C Insurers™
Jun 16 2008 // Multi-State, Players Multi-Line Revealed While many property/casualty insurers referred to themselves as super regionals, the definition of a super regional insurer remained unclear until the Feb. 12, 2007, issue of...
Texas’ April Enforcement Actions Result in $771K in Fines, Restitution
Jun 10 2008 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during April 2008 include nine license revocations, two license denials and fines and restitution totaling $771,165. The today...
Max Specialty Acquires Guaranty Casualty to Write Admitted Business
Jun 5 2008 // Max Specialty Insurance Co., of Richmond, Virginia, the U.S. excess and surplus lines unit of Max Capital Group Ltd., reports it has acquired Commercial Guaranty Casualty Insurance Co., an insurance entity licensed to...
Property Casualty Insurers Association Hires Sr. VP of Public Affairs
Jun 4 2008 // The Property Casualty Insurers Association of America (PCI) has hired Marguerite Murer as senior vice president of public affairs. Murer has extensive public affairs experience in both the public and private sectors. She...
People
Jun 2 2008 // Markel Corp.’s Board of Directors elected Anthony F. (Tony) Markel vice chairman and Paul W. Springman president and chief operating officer. Markel served Markel Corp. for more than 40 years, most recently as...
Colorado Casualty Offers Commercial Lines Products
May 21 2008 // Englewood, Colo.-based Colorado Casualty, a Liberty Mutual Agency Markets regional company, is introducing its new commercial lines product portfolio and Web-based underwriting application to agents in Colorado, Nevada,...
Kansas City Chartered Property Casualty Underwriters Elect Officers
May 15 2008 // In preparation for another successful chapter year, the Kansas City Chapter of the CPCU Society (Chartered Property Casualty Underwriters) recently elected its 2008-2009 officers. Beginning May 12, 2008, Bill West, CPCU,...
Main Street America Group Acquiring Michigan’s Great Lakes Casualty
May 14 2008 // The Main Street America Group, a regional property/casualty insurer based in Jacksonville, Fla. that writes business up and down the East Coast, is expanding to the Midwest. The insurer said it has agreed to acquire Great...
Buchanan to Manage New Ohio Casualty Office in Virginia
May 7 2008 // Ohio Casualty, a Liberty Mutual Agency Markets regional company, has opened a new branch office in suburban Richmond to provide commercial lines and inland marine underwriting services for agents in central and southern...
People
May 5 2008 // Patrick G. Ryan, founder and executive chairman Aon Corp., said he intends to retire Aug. 1, 2008. Ryan said the firm’s transition to a new management team under CEO Greg Case is complete. Ryan founded Aon, which has...
People
May 5 2008 // Grange Mutual Casualty Co. announced that Randy Montelone will retire at year end after 29 years of service with the company. Tom Welch, current president of Grange Life Insurance Co., a Grange subsidiary, assumes the role...
S&P Reports on the ‘Evolving World of Property/Casualty Securitizations’
May 2 2008 // A report from Standard & Poor’s Ratings Services analyzes the catastrophe bond and reinsurance sidecar markets, which, S&P concludes, have “experienced sharp surges of activity after 2005.”...
Integro Expands London Casualty Practice
Apr 25 2008 // Integro announced the hiring of two established brokers who will join the firm’s Casualty practice in London – Andrew Park and Jonathan Bines. Park brings considerable technical knowledge and 25 years broking...
Liberty Mutual to Acquire Safeco Insurance in $6.2B Deal
Apr 23 2008 // Liberty Mutual Group has agreed to acquire all outstanding shares of common stock of Safeco Corp. for $68.25 per share in cash in a deal that will make Liberty Mutual the fifth largest U.S. property/casualty insurer and...
