Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Runoff Specialist RiverStone Buying Vermont Captive Insurer Western P&C
Aug 11 2022 // RiverStone, the U.S. insurance runoff specialist of the Fairfax insurance group, announced a tentative agreement to acquire Western Property & Casualty Insurance Co. to be effective this month. The shareholders of...
People Moves: BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE; Hannover Re Appoints Swiss Re’s Ooi to Oversee P/C Growth in APAC
Aug 9 2022 // This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and Hannover Re. A summary of these new hires follows here. BHSI Enters Commercial Hull in Australasia, Hiring...
Independent Agents Place Majority of U.S. P&C Insurance: Big I
Aug 9 2022 // The independent agency channel places 62% of all property-casualty insurance written in the U.S., according to the Big “I” 2022 Market Share Report. The annual Market Share Report compiles and analyzes property...
Top 100 Independent Property/Casualty Agencies
Aug 1 2022 // Welcome to the 18th annual Insurance Journal Top 100 Independent P/C Agencies report. The Top 100 list is ranked by total property/casualty agency revenue for 2021 and comprises only those agencies whose business is...
United P&C Completes Florida Restructuring Amid Catastrophe Losses
Jul 28 2022 // United Insurance Holdings, parent of United Property & Casualty Insurance, said it has completed most of its major reorganization plan, consolidating its four Florida-based carriers into two. The news was accompanied...
WIAA, PIIB Join Forces to Create Large California P/C Agents Group
Jul 21 2022 // The Western Insurance Agents Association and the Pacific Interstate Insurance Brokers have joined forces. The board of directors of PIIB, based on El Dorado Hills, California, voted to affiliate all its agency-cluster...
P/C Industry to Finish 2022 With Combined Ratio Over 100: S&P
Jul 18 2022 // For the first time since 2017, the calendar-year combined ratio for the property/casualty industry will eclipse 100 in 2022 due to inflation, according to S&P Global Market Intelligence. “We expect that growth...
United Property & Casualty Says It Is Exploring Potential Sale or Merger
Jul 14 2022 // United Insurance Holdings Corp., parent company of one of Florida’s largest property insurers – and one that has seen heavy losses in the last two years – announced that its board of directors is now exploring a...
2022 Super Regional P/C Insurers™; Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers
Jul 4 2022 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2021 data for property/casualty...
P/C Industry to Finish 2022 in the Red With Combined Ratio Over 100: S&P
Jun 30 2022 // For the first time since 2017, the calendar-year combined ratio for the property/casualty industry will eclipse 100 in 2022 due to inflation, said S&P Global Market Intelligence. “We expect that growth rates in...
Cyber Continues as Outlier in Otherwise Stabilizing Commercial P/C Market: USI
Jun 20 2022 // A mid-year update on the commercial property/casualty market from USI Insurance Services is the latest to report rate stabilization in most lines of business — except for cyber. The cyber insurance market...
Q&A With Nationwide’s P/C President and COO Mark Berven
Jun 20 2022 // In 2021, insurer and financial services company Nationwide reported the strongest earnings in the Fortune 100 company’s history — $2.8 billion in operating income with sales of over $50 billion, another record...
Wright to Pick Up United P&C’s Flood Book in July
Jun 16 2022 // Wright National Flood Insurance Co. has announced it will take over United Property & Casualty’s flood insurance book of business, starting in the third quarter of this year. The move, still subject to review by...
Cyber Continues as Outlier in Otherwise Stabilizing Commercial P/C Market: USI
Jun 6 2022 // A mid-year update on the commercial property/casualty market from USI Insurance Services is the latest to report rate stabilization in most lines of business – except for cyber. The cyber insurance market...
P/C Industry Posts 2021 Underwriting Loss but Surplus Hits $1 Trillion
Jun 6 2022 // Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021. The P/C industry posted a $5.2...
U.S. P/C Q1 2022 Underwriting Income Up 5%: AM Best
May 31 2022 // AM Best reported Friday that first-quarter net underwriting income for the U.S. property/casualty industry rose 4.6% to $3.3 billion. Explaining the result, AM Best said that a 10.5 percent jump in net earned premiums and...
