USA Property

OLDWICK, N.J., June 26, 2025--(BUSINESS WIRE)--Underwriting results in the U.S. property/casualty (P/C) industry were led by a $31 billion turnaround in the personal auto line of business, with the entire P/C industry ending the year with a net underwriting gain of $22 billion, compared with a $23 billion loss in 2023, according to a new AM Best report. The 2024 financial results on each individual line of P/C business, along with corresponding analysis, are detailed in a new Best’s Special Report, titled, "2024 P/C Snapshot: Personal Lines Results Propel Turnaround...

Jason Mitchell Group (JMG) officially earned the ranking as America’s #1 real estate team for both transactions and volume on Real Trends’ List for the Top Ranking Mega Teams in 2024 on June 6th, 2025. JMG, located in 42 states, finished 2024 with approximately 820 agents nationwide — now over 1000 — with 10,279 closings and $5.1 billion in transaction volume. Their year-over-year transaction growth came in at around 23%.  From an earnings perspective, JMG posted a solid 18% year-over-year net revenue increase.  Top line revenue exceeded $129,000,000, while company...

One of the wealthiest families in Brazil has plans to bulk up its U.S. real estate holdings.Votorantim SA, a holding company controlled by the Ermirio de Moraes family, is looking to accumulate nearly $1 billion in real estate assets in the United States in the next five years, Bloomberg reported. The company’s property arm, Altre Empreendimentos e Investimentos Imobiliarios SA, has already invested $200 million in equity and loans.Altre’s holdings are spread across the United States and Brazil, with the U.S. representing 20 percent of its portfolio. Within the U.S.,...

CHARLESTON, S.C. (WCIV) — Charleston-based Greystar Real Estate Partners, the largest property management company in the country, has been ordered to pay over $1.4 million to US military servicemembers after the Justice Department found it had imposed illegal fees on individuals who terminated their leases after receiving military relocation orders. The DOJ alleged that Greystar used a software it knew would automatically charge early termination fees on servicemembers protected under the Servicemembers Civil Relief Act. The company will pay out triple damages to effected military members and their co-tenants, tallying...

Homeowners are awaiting the launch of the state’s first year of the Stay NJ property tax benefit. The new tax break cuts property tax bills by 50%, to a maximum of $6,500, for senior citizen homeowners and those who receive Social Security Disability payments and meet other eligibility requirements.For the first time, there’s a new, combined application for all the state’s property tax benefits — ANCHOR, Senior Freeze and Stay NJ. A separate ANCHOR application for renters and for homeowners under age 65 will be released sometime this summer. The...

MAPFRE USA, the holding company for a number of property and casualty insurance companies, has appointed Mark Pasko as Executive Vice President (EVP), General Counsel and Secretary of US operations, effective July 21st, 2025. In his new role, Pasko will be responsible for MAPFRE’s legal, regulatory and government affairs in the US, along with compliance, state filings and corporate governance matters. He has decades of corporate counsel, insurance and management experience. Most recently, Pasko was Chief Legal Officer of QBE North America managing the legal and regulatory affairs for the...

The problem: Reducing or getting rid of property taxes would eliminate dollars local governments rely on for needed services.How well will the Florida Legislature work with Gov. Ron DeSantis?FLORIDA TODAY's John Torres discusses the 2025 legislative session with reporters James Call and John Kennedy in this excerpt fro the Florida Pulse.Florida lawmakers excluded property tax cuts from the recently approved state budget and tax package.House and Senate leaders plan to study the potential impact of property tax reductions on local governments before considering further action.While a potential property tax cut...

(Bloomberg) -- The pain in US commercial real estate credit continues to bubble to the surface after a surge in borrowing costs and the rise of work from home left lenders vulnerable to losses.  Delinquencies continue to increase, though the rate has moderated, researcher Green Street said this past week. Distress is also climbing, rising 23% to more than $116 billion at the end of March from a year earlier, data compiled by MSCI Real Capital Analytics show. That’s the highest in more than a decade. Investors including Victor Khosla...

Malibu's iconic coastal route, Pacific Coast Highway, is expected to see delays this upcoming weekend as property clearing efforts necessitate the closure of a southbound lane. According to a KTLA report, the lane closure is scheduled south of Big Rock Drive from 5:00 a.m. to 5:00 p.m. on Saturday and Sunday. In light of the anticipated work by the U.S. Army Corps of Engineers, officials are cautioning drivers to prepare for potential holdups throughout the weekend. While the weather in Malibu is expected to attract beachgoers with forecasts predicting afternoon...