California Casualty Group · San Mateo, CA United States
Company Description
Phone: 650-574-4000
Fax: 650-572-4585
View California Casualty Group Locations On A US Map
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This link will open in a new window California Casualty looks after the less than golden moments in the Golden State and beyond. The group of four property/casualty insurance companies provides personal automobile and homeowners insurance in more than 40 states. It specializes in serving such affiliation groups as education and public safety association and credit unions. The group also provides some personal specialty coverage, including earthquake insurance, flood insurance, and personal liability umbrella coverage.The group is managed by its attorney-in-fact, California Casualty Management. Chairman Thomas Brown, whose grandfather founded California Casualty in 1914, controls the firm. To read the full description, subscribe now.
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Key California Casualty Group Financials
| Company Type | Private Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $18.8 |
California Casualty Group Executives
19 executives listed for California Casualty Group's San Mateo, CA location.
| Title | Name & Bio | Contact |
| Chairman | Thomas Brown | Network |
| President, CEO, and Director | Carl Brown | Network |
| SVP, CFO, and Treasurer | Michael Ray | Network |
Competition
Competitive Landscape for California Casualty Group
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top California Casualty Group Competitors
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