Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AGCS and Local Allianz P/C Entities Now Trading as ‘Allianz Commercial’
Jul 24 2023 // Allianz Global Corporate & Specialty (AGCS) together with the commercial insurance businesses of local Allianz Property & Casualty (P&C) entities have begun to trade as “Allianz Commercial” in one...
Specialty P/C Insurers Outperform Their U.S. Peers: Report
Jul 21 2023 // U.S. property/casualty insurers that focused on difficult to place risks distanced themselves from their peers in key metrics measuring earnings, underwriting profitability, balance sheet growth and other indicators of...
Workers’ Compensation Remains Profit Engine for U.S. P/C Insurers: AM Best
Jul 18 2023 // Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. property/casualty (P/C) commercial sector in 2022, as they benefited from the long-term decline in workplace...
P/C Market Won’t See Underwriting Profit Until 2024: S&P
Jul 14 2023 // After four years of unparalleled underwriting profitability ending in 2021, the property/casualty market is headed for a second straight year of underwriting losses, according to the newly released S&P Global Market...
People Moves: Incline P&C Group Hires Gorney as COO
Jul 13 2023 // Incline P&C Group Hires Gorney as COO Incline P&C Group, headquartered in Austin, Texas, appointed George Gorney as chief operating officer. Gorney joins Incline from U.S. Risk Insurance Group, where he previously...
Q2 Commercial P/C Rates Hold; Personal Lines Slightly Decrease: MarketScout
Jul 7 2023 // Like the first quarter of 2023, the composite rate for U.S. commercial property/casualty lines increased 5% in the second quarter, according to MarketScout’s Market Barometer. The Dallas-based distribution and...
People Moves: Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions; BMS Re Hires 3 for Fac Team; QBE Canada Hires Liberty Mutual’s Mason as U/W Mgr, Property
Jul 7 2023 // This edition of International People Moves details appointments at Swiss Re, BMS Re, and QBE Canada. A summary of these new hires follows here. Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions Swiss Re has...
US P/C Records $8.2 Billion Underwriting Loss in Q1: AM Best
Jun 15 2023 // A rise in first quarter losses in the homeowners insurance line of business primarily put U.S. property/casualty underwriting results in the red, according to AM Best. The U.S. P/C industry booked a $8.2 billion...
How Will Economic Pressures Affect the Property/Casualty Industry?
Jun 5 2023 // How could the current economic environment affect workers’ compensation — and the property and casualty insurance industry overall – in 2023? That’s a question that insurance veteran Robert Hartwig...
People Moves: Stephens Insurance Adds Bettina to Houston Team as P&C SVP
Jun 2 2023 // Stephens Insurance Adds Bettina to Houston Team as P&C SVP Stephens Insurance, LLC, an affiliate of Stephens Inc., has hired Chris Bettina as a senior vice president within the property and casualty practice. Bettina...
State Farm Stops Taking New Applications for Business, Personal Lines P/C in California
May 27 2023 // An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and...
U.S. P/C Industry Posts Record Q1 Underwriting Loss: S&P
May 24 2023 // An analysis from S&P Global Market Intelligence found that the finger can be pointed at personal lines carriers for most of the property/casualty industry underwriting red ink during the first quarter. The U.S. P/C...
How Will Economic Pressures Affect P/C Industry?
May 22 2023 // How could the current economic environment affect workers compensation – and the property and casualty insurance industry overall – in 2023? Earlier this month, insurance veteran Robert Hartwig forecasted...
People Moves: Chubb Appoints Homan to Lead International P/C Division
May 10 2023 // Chubb Appoints Homan to Lead International Property and Casualty Division Chubb today announced that Mark Homan has been appointed division president, international property and casualty for overseas general insurance, the...
U.S. P/C Underwriting Profit in 2023? Not Yet, Fitch Predicts
May 8 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 compared to 2022, but the combined ratio is still going to hover above breakeven, according to their...
Q1 Commercial P/C Rates Hold Steady, Up 5%: MarketScout
May 8 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property/casualty lines increased 5% during the first quarter 2023, according to MarketScout. The Dallas-based distribution and...
Canada’s Desjardins Is Seeking Property/Casualty Insurance Acquisitions
Apr 19 2023 // Canada’s Desjardins Group is seeking acquisitions in the property and casualty (P/C) insurance space as it seeks to boost its presence across the country, CEO Guy Cormier told Reuters on Tuesday. Cormier said the...
U.S. P/C Underwriting Profit in 2023? Not Yet, Fitch Predicts
Apr 17 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to their forecast. Fitch...
High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022
Apr 17 2023 // High inflation alone led to an increase in property/casualty claims of 5%-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional...
Q1 Commercial P/C Rates Hold Steady, Up 5%: MarketScout
Apr 10 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property and casualty lines increases 5% during the first quarter 2023, according to MarketScout. The Dallas-based distribution and...
