Property and Casualty Insurance

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• Chubb shares rise after upgrade to 'Buy'

  NEW YORK-- Chubb Corp. shares hit an all-time high Friday after a Deutsche Bank analyst upgraded the company to "Buy" from "Hold," saying that the company offers the best value for investors among the traditional property and casualty companies.

• Blame Climate Change for Insurance Rate Hikes: Travelers CEO

  

  Travelers has been raising insurance premiums for three years because of severe weather patterns, said Chairman and CEO Jay Fishman told CNBC.

• Chubb's Q4 profit drops on big Sandy costs

  WARREN, N.J.-- Property and casualty insurer Chubb Corp. on Thursday said fourth-quarter net income dropped 77.4 percent as it suffered heavy costs related to Superstorm Sandy. Chubb bought back 369,900 shares at a total cost of $28 million, or an average cost of $76.54 a share, during the fourth quarter.

• Ace 4Q profit up, but shares fall on weak forecast

  Property and casualty insurer Ace Ltd. said Tuesday that its fourth-quarter net income improved, but losses tied to Superstorm Sandy drove down its operating profit. The Zurich- based company's net income increased to $765 million, or $2.22 per share, for the period that ended in Dec. 31.

• Maine insurance regulators help in money recovery

  GARDINER, Maine-- Maine insurance regulators say they helped consumers in the state to recover more than $3 million owed to them during the past year. Insurance Superintendent Eric Cioppa says nearly $2.2 million was recovered by the Bureau's Consumer Health Care Division, and almost $950,000 was recovered by the Property and Casualty Division.

• Travelers Profit Drops as Hurricane Sandy Takes Toll

  

  The super storm that ravaged swaths of the northeast in November buffeted Travelers earnings, as the company reported sharply lower fourth quarter earnings.

• UPDATE 3-Genworth separates U.S. MI unit, reduces bond default risk

  Jan 16- Genworth Financial Inc on Wednesday said it was reorganizing itself to separate its mortgage insurance business from the rest of the company, reducing the risk of default on its bonds and sending its shares up 9 percent.

• UPDATE 2-Genworth bows to investor pressure, separates mortgage insurance unit

  Jan 16- Genworth Financial Inc said it would take steps to distance itself from its troubled mortgage insurance business, following investor demands to spin off the unit, sending its shares up 11 percent.

• UPDATE 1-Genworth to separate its mortgage insurance business

  Jan 16- Genworth Financial Inc said it would separate its mortgage insurance business into a new company, as the company looks to insulate itself from its troubled mortgage insurance unit, sending its shares up 4 percent before the bell.

• Hong Kong shares close down 0.9 pct; China property, insurance sink

  HONG KONG, Jan 8- Hong Kong shares closed at their lowest in a week on Tuesday, as investors took profit on mainland property counters after an official media report raised fears of more stringent enforcement of sector curbs, stalling its strong gains in recent months. The China Enterprises Index of the top Chinese listings in Hong Kong fell 2.2 percent.

• Before Santa Brings That Puppy, Talk to Your Insurer

  

  Christmas gifts like trampolines, treehouse kits and certain breeds of puppies will please the kids, but cause homeowner's insurance agents to cringe.

• For Now, Insurance Stocks to Stay Sought After: Pro

  

  For now, insurance companies will continue to increase their cash reserves and invest some of that money into stock buybacks, dividend increases and acquisitions. That will keep it one of the most sought-after sectors by investors. TheStreet.com reports.

• Insurance rater Best raises U.S. asbestos losses estimate to $85 bln

  Best, the major rater of insurance companies, raised its estimated losses by $10 billion, saying that property and casualty insurers are incurring about $2 billion in losses each year while paying out $2.5 billion.

• UPDATE 3-U.S. Treasury exits AIG as markets await rebound

  *Shares price at $32.50 apiece, for total proceeds of $7.6 bln. By Rick Rothacker and Jochelle Mendonca. Treasury's sale of its remaining stake in American International Group Inc will leave taxpayers with a profit of nearly $23 billion- more than the next three most successful bailouts combined.

• UPDATE 2-U.S. Treasury exits AIG as company sets growth plans

  *Shares price at $32.50 apiece, for total proceeds of $7.6 bln. Treasury's sale of its remaining stake in American International Group Inc will fetch $7.6 billion, bringing the government a total profit of $22.7 billion from its bailout of the insurer in the financial crisis four years ago.

• Watch Out For PICC Property & Casualty: Pro 

  

  Scott Russell, Head of Insurance Research, Asia, Macquarie says the Chinese property & casualty space is performing better than life insurance. He is positive on PICC's debut in Hong Kong, but prefers its subsidiary PICC P&C.

• 'Cliff' Deadline Was Two Months Ago: Allstate CEO

  

  Neither Democrats nor Republicans are creating a win-win for the other in the "fiscal cliff" negotiations and the real deadline was months ago, Allstate CEO Thomas Wilson told CNBC's "Closing Bell" on Tuesday.

• Allstate CEO: Facing $1.1 Billion From Sandy 

  

  Allstate Chairman, President & CEO Thomas Wilson, discusses his take on the fiscal cliff negotiations, and the $1.1 billion costs his company faces after Hurricane Sandy.

• For Flood Victims, Another Blow Is Possible

  

  Home owners in Sandy's path face an unpleasant reality: property damage caused by flooding is unlikely to be covered by insurance.

• Travelers Posts Record Operating Profit

  

  Travelers Cos. posted record operating profit in the third quarter, as prices rose and losses from natural disasters fell sharply, the property insurance company said on Thursday.