property & casualty insurers News

U.S. P/C Insurers Report Improved 2013 Performance: Fitch

U.S. property/casualty insurers’ operating performance improved in 2013, according to a new Fitch Ratings report. The improvement is largely a result of lower catastrophe-related losses and reductions in the core loss ratio from premium rate increases across many product segments. …

Insurers Boost California Economy by $30.2B

California has a near $2 trillion economy that ranks it as a global financial power, thanks in part to a multi-billion dollar boost from the property/casualty insurance industry, according to a new report. Insurers contributed $30.2 billion to California’s 2011 …

P/C Insurers’ 2013 Performance Not Likely to Repeat

Property/casualty insurers will be hard-pressed to repeat the industry’s stellar 2013 performance, a panel of industry chief executives agreed at the 18th annual Property/Casualty Insurance Joint Industry Forum, held on January 14. The CEOs, drawn from a cross-section of the …

P/C Insurers Focus on Underwriting, Data and Analytics in 2014: EY Report

In the face of continued economic, competitive and regulatory challenges, property/casualty insurers are seizing opportunities to improve underwriting discipline, drive operating efficiencies and leverage data and enhanced analytics to sustain growth and widen their performance advantage, according to EY’s 2014 …

Stronger Underwriting Improves P/C Insurers’ Bottom Line in First Half of 2013

Private U.S. property/casualty insurers’ net income after taxes rose to $24.5 billion in first-half 2013 from $17.2 billion in first-half 2012, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus increasing to 8.2 …

P/C Insurers’ Overall Results Improved in First Quarter 2013

Private U.S. property/casualty insurers’ net income after taxes rose to $14.4 billion in first-quarter 2013 from $10.2 billion in first-quarter 2012, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus climbing to 9.6 …

Novarica Finds Wide Variations in P&C Claims Processes

Property/casualty insurers have made extensive investments in improving their claims systems and processes over the past decade, but capability levels still vary widely between companies with potential impacts to loss results, according to a new survey of more than 90 …

P/C Insurer Profits Rose in 2012, Despite Sandy Losses and Investment Gains Drop

Despite the impact of Superstorm Sandy and smaller investment gains, private U.S. property/casualty insurers’ net income after taxes grew to $33.5 billion in 2012 from $19.5 billion in 2011, with insurers’ overall profitability as measured by their rate of return …

Alabama Warns Hundreds of Insurers to Register or Face Fine

Hundreds of property/casualty insurance companies have not registered with Alabama regulators as required, prompting the state insurance department to issue a warning and extend the registration deadline to March 31. The department is warning property/casualty insurers that they must all …

Survey Reveals Predictive Modeling Important to P&C Insurers

Property & casualty (P&C) insurers acknowledged that the capture and transformation of data into useful information has turned into a critical differentiator of performance within the P&C insurance marketplace, according to a new survey by global professional services company Towers …