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Insurance Property and Casualty Insurance

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  • Aug 4- Property and casualty insurer Travelers Cos Inc said on Tuesday Alan Schnitzer would take over as chief executive from Jay Fishman, effective Dec. 1. Fishman has led the company since April 2004 when The St. Paul Companies Inc merged with Travelers Property Casualty Corp and under his watch, Travelers' stock value has more than doubled.

  • Travelers says CEO Jay Fishman to step down Tuesday, 4 Aug 2015 | 4:52 PM ET

    Aug 4- Property and casualty insurer Travelers Cos Inc said on Tuesday Chief Executive Jay Fishman will step down, and Alan Schnitzer will succeed him. Schnitzer is the Chief Executive of Travelers' business and international insurance, the company's largest segment. Schnitzer's appointment will be effective Dec. 1.

  • Travelers Companies announces new CEO Tuesday, 4 Aug 2015 | 4:32 PM ET
    Travelers

    Travelers Companies announced on Tuesday that Alan D. Schnitzer will succeed Jay S. Fishman as CEO effective Dec. 1 of this year.

  • Aug 3- Loews Corp, a hotel, energy and financial services conglomerate, reported a 44 percent drop in its quarterly operating profit due to lower revenue from its Diamond Offshore Drilling Inc unit and its insurance business. Diamond Offshore, Loews' second-largest subsidiary, also posted an 8.4 percent fall in quarterly revenue, hurt by weak demand due to a slump...

  • Living in London: It'll cost you Wednesday, 29 Jul 2015 | 4:50 AM ET
    Living in London: It'll cost you

    Dermot O'Leary, chief economist at Goodbody, says there's very strong demand for London's property and supply is short.

  • Singapore property: Is a turnaround on the cards? Wednesday, 22 Jul 2015 | 2:11 AM ET

    Singapore's private property market has suffered from slackening transaction volumes and falling prices and it doesn't look like there's any relief.

  • July 21- Property and casualty insurer Travelers Cos Inc reported a stronger-than-expected quarterly operating profit as catastrophe losses halved and underwriting gains doubled. In the industry's biggest deal, Swiss insurer ACE Ltd said this month it would buy Travelers' arch rival Chubb Corp for $28.3 billion. "We already compete against these two...

  • Travelers profit boosted by lower catastrophe losses Tuesday, 21 Jul 2015 | 9:04 AM ET
    Travelers

    Travelers reported a stronger-than-expected profit as catastrophe losses almost halved and it recorded a gain from the resolution of tax issues.

  • July 21- Property and casualty insurer Travelers Cos Inc reported a stronger-than-expected quarterly net profit as catastrophe losses almost halved and the company recorded a gain from the resolution of tax issues. The company, which vies with American International Group Inc for the title of biggest U.S. commercial property and casualty insurer, said it...

  • July 21- Property and casualty insurer Travelers Cos Inc reported a 19 percent rise in quarterly net profit as catastrophe losses almost halved and it recorded $32 million from the resolution of tax issues from last year. The Dow-30 company said its net income rose to $812 million, or $2.53 per share, in the second quarter ended June 30, from $683 million, or $1.95...

  • NEW YORK, July 17- Japanese insurers including MS&AD Insurance Group Holdings Inc and Sompo Japan Nipponkoa Insurance Inc are seeking mergers with peers in the United States, as a declining population at home forces them to pursue markets that are growing overseas. Property and casualty insurers are particularly hungry for non-domestic acquisitions...

  • YOUR MONEY-Auto insurance loyalty can cost you Thursday, 25 Jun 2015 | 9:00 AM ET

    June 25- When Jonathan G. Stein became unhappy with his long-time car insurance carrier earlier this year, the 41- year-old lawyer from Elk Grove, California switched to a new company. The Texas Office of Public Insurance Counsel did a study showing that a consumer who has stuck with the same auto insurer for eight years could reduce the premium by 19 percent by...

  • WASHINGTON, June 19- The U.S. government's appeals process for reviewing flood insurance claim disputes is riddled with flaws, but there is no evidence of systematic underpayments by insurers to flood victims, an investigation by U.S. Senate staffers has found. "Despite widespread concerns, it does not appear that systematic incentives exist for any...

  • Tech's peer-to-peer model is coming for insurance Friday, 19 Jun 2015 | 2:25 PM ET
    insurance

    Investment opportunities for average investors and lower premiums might be coming to the insurance market as tech moves in.

  • Renee Hsia of the University of California, San Francisco, who has studied hospital charges but was not involved in this research. "That results in higher premiums for auto insurance and for employers who pay into workers' comp," said study co-author Ge Bai of Washington& Lee University. She and Gerard Anderson of Johns Hopkins Bloomberg School of Public Health...

  • Insurers rush to site of ship capsized on China's Yangtze Wednesday, 3 Jun 2015 | 12:43 AM ET

    SHANGHAI, June 3- PICC Property and Casualty Co Ltd, the insurer of a ship that capsized in China's Yangtze river on Monday, and other insurers have sent teams to the site to settle claims in connection with what could be the country's worst shipping accident in decades. Divers searched the capsized Eastern Star on Wednesday for more than 400 missing people, many of...

  • The outlook for London luxury property Friday, 29 May 2015 | 11:50 AM ET
    The outlook for London luxury property

    What's the long-term outlook for London's luxury property market after the Conservative victory? Jeremy McGivern, founder of Mercury Homesearch, explains.

  • HONG KONG, May 3- Fosun International Ltd, an investment company controlled by Chinese billionaire Guo Guangchang, said it had offered to buy the 80 percent it does not already own in U.S. insurer Ironshore Inc for $1.8 billion. The move follows Fosun's decision to buy a 20 percent stake in the casualty and property insurer for $464 million in August 2014 in a bid to...

  • Genworth Financial profit falls 16 pct Tuesday, 28 Apr 2015 | 5:29 PM ET

    April 28- Life and mortgage insurer Genworth Financial Inc reported a 16 percent drop in quarterly profit, hurt by lower operating income from its global mortgage insurance unit. Net profit attributable to common shareholders in the first quarter ended March 31 fell to $154 million, or 31 cents per share, from $184 million, or 37 cents per share, a year earlier.

  • Prepare for rise in US house prices Tuesday, 28 Apr 2015 | 5:00 AM ET
    Prepare for rise in US house prices

    Shari Olefson, director of The Carnegie Group, says there's no question that we'll see a rise in U.S. home prices at a slow, but steady, rate.