Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
US P/C Underwriting Results: Two Years in a Row Over $20 Billion in the Red
Jul 3 2024 // For the second year in a row, the U.S. property/casualty industry booked an underwriting loss of more than $20 billion primarily due to the lackluster performance of personal auto and home insurance lines. The total U.S....
US P/C Insurers Post Best Q1 Underwriting Result In 17 Years
Jun 27 2024 // Even though direct loss ratios for commercial auto and other liability lines rose in first-quarter 2024, across all lines U.S. property/casualty insurers posted a net combined ratio of 94—the best since first-quarter...
Leveraging Technology: Revolutionizing the Distribution “Middle” in P&C Insurance
Jun 20 2024 // This post is part of a series sponsored by Dyad. In the ever-evolving landscape of Property and Casualty (P&C) insurance, the distribution “middle”, comprised of intermediaries such as agents, brokers,...
People Moves: Canopius Taps AXA XL’s Houghton as Product Leader, Specialty; Swiss Re Promotes Camara to Head of P/C Re in Northern, Central, Eastern Europe
Jun 19 2024 // This edition of International People Moves details appointments at Canopius and Swiss Re. A summary of these new hires follows here. Canopius Taps AXA XL’s Houghton as Product Leader, Specialty Canopius, the...
US P/C Insurers Investment Income
Jun 17 2024 // The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report. The Best’s Special...
Analysis: Underwriting Loss Estimates Highlight Ongoing Challenges for US P/C Industry
Jun 14 2024 // The U.S. property/casualty market sustained an estimated $21.1 billion in underwriting losses in 2023, highlighting the challenges the industry faces as a result of natural catastrophes and inflation. According to joint...
P/C Insurers Record $9.3 Billion Q1 Underwriting Gain: AM Best
Jun 12 2024 // The U.S. property/casualty industry recorded a $9.3 billion net underwriting gain in the first three months of 2024, according to a recently published AM Best report. The gain marks a reversal of an $8.5 billion loss...
P/C Insurers Slow to Achieve Analytics Ambitions: Survey
Jun 5 2024 // Just under half of property/casualty insurers recently surveyed by WTW say they plan to incorporate artificial intelligence into their analytics (49%), but most have yet to bring “traditional” analytics into...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Jun 3 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024, according to The Council of Insurance Agents and Brokers’ Q1 Market Survey. With...
US P/C Insurers Hit Record Investment Income in 2023
May 31 2024 // The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report. The Best’s Special...
People Moves: Ryan Hired to Head Hyperexponential US P/C; Carnes Named Nationwide’s Chief Pet Officer
May 29 2024 // Insurtech hyperexponential has hired Risa Ryan as head of US P/C. Risa was most recently chief underwriting officer at Sompo International. She will be based in New York. She has over 25 years of industry experience,...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
May 20 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. According to The Council of Insurance Agents and Brokers’ Q1 Market Survey, the...
Overall US P/C Combined Ratio Improves in 2023 but Trouble Spots Remain: S&P
May 16 2024 // The U.S. property/casualty industry’s net combined ratio improved in 2023 to 101.7 from 102.5 the prior year, according to S&P Global Market Intelligence. The combined ratio for the industry’s personal...
Zurich’s First-Quarter P/C Revenue Rises on Higher Premiums
May 16 2024 // Zurich Insurance Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums. Gross written premiums in the business rose 9% from a year...
Florida OIR Fines Heritage P&C $1M for Ian Claims Issues
May 13 2024 // The Florida Office of Insurance Regulation in recent weeks has fined five property and casualty insurers, including Heritage Property & Casualty Insurance Co., which was hit with a $1 million penalty for failing to...
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...
