P/C News Headlines

The following news stories feature information regarding the Property/Casualty insurance market.


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Lloyd’s Underwriter Helios Posts Six-Month Loss on COVID-19 Reserves: COVID-19 reserves led to a six-month net loss for Helios Underwriting plc as the Lloyd’s syndicate acquirer said market conditions are creating ...
Date: September 28, 2020    
Third Point Re: Arcadian MGA Will Write up to $125 Million in Excess Casualty, Professional Liability in 2021: Third Point Reinsurance Ltd. said it is targeting gross written premium for 2020 of about $10 million and full-year 2021 GWP of between $75 million and $125 ...
Date: September 28, 2020    
American Financial Group Agrees to Sell Runoff Lloyd’s Insurer Neon: American Financial Group said it agreed to sell GAI Holding Bermuda and its subsidiaries, including the entities that own its Lloyd’s insurer Neon, to ...
Date: September 28, 2020    
Guy Carpenter Names Exec to Lead Property Cat for UK, Global Specialties and Key Global Clients: Guy Carpenter and Co. LLC has named Paul Miller to lead Guy Carpenter property catastrophe for the U.K., global specialties and key global clients, effective ...
Date: September 28, 2020    
AM Best Affirms Credit Ratings of European Mutual Association for Nuclear Insurance: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of the European Mutual Association for ...
Date: September 28, 2020    
Business Group Urges FCA to Push Insurers to Pay Test Case Claims: A lawyer for a business group that prevailed in the business-interruption test case is urging the British Financial Conduct Authority to use its power to ...
Date: September 25, 2020    
NCOIL Adopts Model Designed to Boost Private Flood Insurance: A National Council of Insurance Legislators committee has approved a flood insurance model act that it said will boost the private flood insurance ...
Date: September 25, 2020    
Citizens CEO: Unhealthy Private Market Means Business Returning to Insurer: Florida Citizens Property Insurance Corp.’s growth rate is accelerating as private insurers raise rates as much as 33.5%, according to Chief Executive Officer ...
Date: September 25, 2020    
AM Best Affirms Credit Ratings of Oil Casualty Insurance, Ltd: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Oil Casualty Insurance, Ltd (OCIL) ...
Date: September 25, 2020    
Swiss Re to Place Corporate Solutions Unit Under Reinsurance Entity in Streamlining Move: Swiss Re said it will further streamline the group’s legal entity structure, making Swiss Reinsurance Co. Ltd. the sole direct wholly owned operating ...
Date: September 25, 2020    
AM Best Affirms Credit Ratings for Members of Ally Insurance Group: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” for the members of Ally Insurance Group ...
Date: September 25, 2020    
Texas Auto Plan Seeking 4.8% Hike for Commercial Auto: The Texas Automobile Insurance Plan Association has filed a request to raise insurance rates for commercial vehicles 4.8%, according to a filing with the Texas ...
Date: September 24, 2020    
California Utility Settles Subrogation Claims From 2017, 2018 Cats for $1.16 Billion: Southern California Edison has reached a $1.16 billion settlement with all the holders of insurance subrogation claims in cases related to the 2017 Thomas and ...
Date: September 24, 2020    
Deloitte: COVID-19 Quarantine May Boost User-Based Auto Products: Pay-as-you-go automobile insurance is gaining traction from consumers who are driving less, said Matthew Carrier, principal, Deloitte. View the video ...
Date: September 24, 2020    
AM Best Upgrades Credit Ratings of Repwest Insurance Company: AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Repwest ...
Date: September 24, 2020    
Universal Insurance Estimates Pretax Third-Quarter Cat Losses at $58 Million: Universal Insurance Holdings incurred an estimated $58 million, to date, in pretax catastrophe losses in the third quarter. The losses resulted in full ...
Date: September 23, 2020    
TWIA Committee Delays Action on Rate Changes: The Texas Windstorm Insurance Association’s Actuarial & Underwriting Committee has delayed voting on making recommendations for rate adjustments. The ...
Date: September 23, 2020    
AM Best 2019 Homeowners Multiperil Rankings: USAA Overtakes Liberty Mutual as Third-Largest Writer: USAA Group direct premiums written rose 10.8% from the prior year, propelling it past Liberty Mutual Insurance Cos. to become the third-largest homeowners ...
Date: September 23, 2020    
P&I Clubs Warn of US Sanctions Threat to International Gas Pipeline Assets: International protection and indemnity mutual insurance clubs are warning shipping and pipe-laying activities related to two offshore gas pipelines may not be ...
Date: September 23, 2020    
FCA Seeks to End ‘Price Walking’ in UK Home and Auto Policies: Saying the United Kingdom’s home and automobile insurance companies are not serving consumers well, the Financial Conduct Authority announced plans to increase ...
Date: September 23, 2020    
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