A new AM Best report warns that nearly half of all U.S. states have experienced record-breaking property catastrophe loss ratios, exceeding their 10-year medians by over 20 percentage points, underscoring an urgent need for insurers to reevaluate risk strategies in light of secondary perils.
Tag: P&C
Building a Stronger P&C Insurance Marketplace in New York: Key Insights from Adrienne Harris
The New York Property & Casualty (P&C) Insurance Summit in Albany, hosted by Big I New York and NY First, featured a compelling chat with Adrienne Harris, Superintendent of the New York Department of Financial Services (DFS).
Insurity to Host Executive Leadership Panel on the Future of P&C Insurance
CEOs from the P&C insurance industry will reveal how they are driving innovation, shaping leadership strategies, and leading industry transformation to meet the demands of 2025.
US P&C Insurance Industry Set for Strong Profit Growth in 2024
The US property and casualty (P&C) insurance industry is poised for a strong profit year in 2024, bolstered by better underwriting results and rising investment income, according to Swiss Re’s recent insights.
Property & Casualty Insurance Industry: Positioned for Growth Amid Economic Expansion
According to a report by Zacks Investment Research, the Property and Casualty (P&C) insurance industry is experiencing significant growth, driven by a robust economic environment, technological advancements, and rising demand for insurance coverage.
Munich Re Posts Quarterly Profit of €2.1B as P&C Reinsurance CoR Strengthens
Global reinsurer Munich Re has announced a preliminary net profit of €2.1 billion for the first quarter of 2024, as the firm highlights a better than expected operational performance across all lines of business.
Chubb Appoints Mark 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 company’s international general insurance operations.
WTW Posts 65% Rise in First-Quarter Profit on Revenue Gains
WTW’s net Income for the first quarter of 2023 was $206 million, an increase of 65% compared to net income of $125 million in the prior-year first quarter.
Harford Mutual Insurance Group Announces Merger Plan with ClearPath Mutual
Harford Mutual Insurance Group announces its plan to merge into the Group, ClearPath Mutual Insurance Company, a monoline workers’ compensation carrier in Louisville, Kentucky.
U.S. Risk Insurance Group Finalizes Sale to USI Insurance Services
U.S. Risk Insurance Group (U.S. Risk), one of the nation’s largest property and casualty program and specialty brokerage firms, today announced the completion of its previously announced agreement to be acquired by USI Insurance Services (USI), a leading insurance brokerage and consulting firm. Terms of the transaction were not disclosed. U.S. Risk will maintain its… Continue reading U.S. Risk Insurance Group Finalizes Sale to USI Insurance Services