Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Universal P&C Posts $72 Million Loss, But Says it’s Well-Covered with Reinsurance
Oct 31 2022 // Universal Insurance Holdings Inc., the parent company of Universal Property & Casualty Insurance Co., Florida’s second-largest carrier, posted a $72 million loss for the third quarter of this year. That’s...
Chubb’s Q3 Numbers: Net Income Falls on Realized Losses; P/C Profits Up 15%
Oct 26 2022 // In spite of incurring nearly $1 billion in pre-tax net losses from Hurricane Ian, Chubb reported a combined ratio of 93.1 for the third quarter of 2022, representing $710 million in underwriting income. Property/casualty...
AXA to Acquire Spanish P/C Insurer GACM España for €310M
Oct 18 2022 // AXA announced that AXA Spain has entered into exclusive negotiations to acquire Groupe Assurances du Crédit Mutuel España (GACM España), a Spanish property/casualty and health insurer. Under the terms of the...
U.S. Treasury Proposes Climate Data Collection Rule for P/C Insurers
Oct 18 2022 // U.S. Treasury on Tuesday said it was proposing a new rule to collect data on climate-related risks from property and casualty insurers, one of the first concrete actions in a new push to beef up financial regulation to...
Future of Insurance: How Technology May Change P/C Underwriting and More
Oct 17 2022 // With rising inflation and the prospect of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of data. All the while,...
Judge Dismisses Florida Racketeering Lawsuit Against United P&C
Oct 14 2022 // A federal judge has dismissed a lawsuit against United Property & Casualty Insurance Co. and its adjusters, a closely watched legal action that charged the insurer had violated anti-racketeering laws to systematically...
The Future of P/C Underwriting: Shifting From Innovation to Operational Efficiency
Oct 13 2022 // With rising inflation and the prospects of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of data. All the while,...
Supply Chain Restructuring to Generate $33B in Commercial P/C Premiums by 2026: Swiss Re
Oct 3 2022 // Swiss Re predicts that deglobalization will generate $33 billion in new commercial property/casualty insurance premiums by 2026, according to its latest sigma report: “Maintaining resilience: the role of P&C...
Adjuster Licensing and Your P&C Claims Processing Timelines
Sep 26 2022 // This post is part of a series sponsored by AgentSync. Hurricanes. Wildfires. Earthquakes. What do they have in common? If you’re in the insurance industry, the answer is that they’re all guaranteed to trigger...
U.S. P/C Records $6.3 Billion First-Half Underwriting Loss: AM Best
Sep 19 2022 // Growth in net premiums and a decline in policyholder dividends were eclipsed by losses and expenses to result in a $6.3 billion net underwriting loss for the U.S. property/casualty industry at the half-way mark of...
Man-Made Crises Threaten P/C Markets, Says Joint Report From Trade Associations
Sep 19 2022 // Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew — a storm that upended and transformed insurance and the manner in which communities prepare for natural disasters —...
Supply Chain Restructuring to Generate $33B in Commercial P/C Premiums by 2026: Swiss Re
Sep 14 2022 // Swiss Re predicts that deglobalization will generate $33 billion in new commercial property/casualty insurance premiums by 2026, according to its latest sigma report: “Maintaining resilience: the role of P&C...
U.S. P/C Records $6.3 Billion First-Half Underwriting Loss: AM Best
Sep 6 2022 // Growth in net premiums and a decline in policyholder dividends were eclipsed by losses and expenses to result in a $6.3 billion net underwriting loss for the U.S. property/casualty industry at the half-way mark of...
P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist
Sep 5 2022 // The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. Loss pressures and a...
Q2 Commercial P/C Premiums Up 6.1%: CIAB
Sep 5 2022 // The second quarter 2022 marked a full five years of premium increases for across all lines of commercial insurance business, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The...
Generali Completes Acquisition of AXA’s Malaysian P/C and Life Businesses
Aug 30 2022 // Generali has completed the acquisition of the majority stakes in the AXA’s property/casualty and life businesses in Malaysia, which will position it as a top-tier general (or P/C) insurer in the country, in line with...
Man-Made Crises Threaten P/C Markets, Says Joint Report From Trade Associations
Aug 24 2022 // Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew – a storm that upended and transformed insurance and the manner in which communities prepare for natural disasters – to...
Rising Inflation to Hit Profits of European P/C Insurers: GlobalData
Aug 23 2022 // Rising inflation in Europe, which jumped to 8.9% in July 2022, the highest in 25 years, will hurt the profitability of property/casualty insurers in 2022-24, according to the London-based data and analytics company...
P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist: Triple-I, Milliman
Aug 16 2022 // The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. Loss pressures and a...
Q2 Commercial P/C Premiums Up 6.1%: CIAB
Aug 16 2022 // The second quarter 2022 marked a full five years of premium increases for across all lines of commercial insurance business, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The...
