Date of Completion

Spring 5-1-2015

Thesis Advisor(s)

Patrick Terrion

Honors Major



Finance and Financial Management | Insurance | Portfolio and Security Analysis


The purpose of this work is to take an in-depth look into the investment side of property and casualty insurance. Many P&C companies have thrived over the past century, and much of this success can be attributed to investment income. This thesis will examine how investment philosophy changes from firm to firm, while also looking at how strategies have changed over time. It will also look into the insurance “float,” and examine how investors such as Warren Buffett have utilized this instrument to their favor. Investing is a huge aspect of property and casualty insurance, and this piece will give the reader a better idea of how a firm’s investment income comes about.