Westfield, a super-regional property and casualty insurance company with a 173-year history, is entering the specialty insurance business with the launch of Westfield Specialty. To lead this new business, Westfield has appointed insurance veteran Jack Kuhn as President. Current market conditions coupled with Westfield’s financial strength, AM Best “A” rating and well-established brand drove the… Continue reading Westfield Enters Specialty Insurance Business
Tag: property & casualty insurance
U.S. P/C Industry Sees Improvement in Net Underwriting Income in 2019
The U.S. property/casualty (P/C) industry improved its net underwriting income in 2019 by $4.9 billion compared with 2018 as a 4.7% growth in net premiums earned offset increases in incurred losses and loss adjustment expenses, underwriting expenses and policyholder dividends. These preliminary results are detailed in a new Best’s Special Report, titled, “First Look: 12-Month… Continue reading U.S. P/C Industry Sees Improvement in Net Underwriting Income in 2019
Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Chubb Ltd. and Allstate Corp., two of the best-known names in property-and-casualty insurance, posted strong gains in fourth-quarter net income, as their core insurance operations benefited from fewer catastrophe claims and growth in premium volume. For U.S. property-casualty insurers, the most-recent quarter included Texas tornadoes and California wildfires, but the damage was light compared with… Continue reading Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Lockton to Provide Insurance Solutions for Vizient Members
Lockton Companies announces it has signed a contract with Vizient Insurance Services, LLC, a subsidiary of Vizient, Inc., to offer property and casualty (P&C) insurance products and related insurance services for Vizient members. Vizient is the largest member-driven health care performance improvement company in the country. The new contract became effective July 1. Under the… Continue reading Lockton to Provide Insurance Solutions for Vizient Members
P&C Insurance Outlook: Excess Capital, Rate Hike to Drive Growth
The Zacks Property and Casualty Insurance (P&C) industry comprises companies that provide commercial and personal property and casualty insurance products and services. Such insurance coverage helps to safeguard property in case of any natural or man-made disaster. Liability coverages are also part of this industry. Insurance coverages provided by the companies include commercial and personal… Continue reading P&C Insurance Outlook: Excess Capital, Rate Hike to Drive Growth
P/C Insurers Report 66% Increase in Net Income in 2018
Private U.S. property/casualty insurers saw their net income after taxes rise to $60 billion in 2018 from $36.1 billion in 2017—a 66.3 percent increase—helped by double-digit premium growth and a significant decline in catastrophe losses, according to Verisk, a leading data analytics provider, and the American Property Casualty Insurance Association (APCIA). Net written premiums grew… Continue reading P/C Insurers Report 66% Increase in Net Income in 2018
Forbes Names The Hanover One of “America’s Best Mid-Size Employers”
The Hanover Insurance Group, Inc. today announced it was recognized by Forbes magazine as one of “America’s Best Mid-Size Employers.” This is the fifth consecutive year the company has been recognized. “This distinction speaks volumes about our unique culture and reflects the energy and enthusiasm our employees bring to their work every day,” said Kathy… Continue reading Forbes Names The Hanover One of “America’s Best Mid-Size Employers”
AIG Adds Thomas Motamed to Board of Directors
American International Group, Inc. (AIG) has announced that Thomas F. Motamed has been elected to its Board of Directors, effective immediately. Motamed retired from his position as Chairman and Chief Executive Officer (CEO) of CNA Financial Corporation in 2016, a role that he had held since 2009. Prior to this, he spent 31 years at… Continue reading AIG Adds Thomas Motamed to Board of Directors
USG Announces Hire of Guidry in Covington, LA
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of Dylan Guidry as Producer/Broker in the Covington, LA branch. Guidry brings over 20 years of experience in the insurance industry, most recently in his underwriting position at AmWINS in Escondido, CA. In his position at USG, Dylan will work… Continue reading USG Announces Hire of Guidry in Covington, LA
The Hartford Named One of America’s Most ‘JUST’ Companies
The Hartford was named to the 2018 JUST 100 list by Forbes and JUST Capital. The list is a ranking of the top 100 publicly-traded, U.S. corporations that, according to Forbes, produce quality goods, treat customers well, minimize environmental impact, support the communities they operate in, commit to ethical and diverse leadership, and above all,… Continue reading The Hartford Named One of America’s Most ‘JUST’ Companies