2012 financial results News

Main Street America Reports 2012 Results

The Main Street America Group announced today its 2012 financial results included an 11.9 percent return on equity, $978 million net written premium, surplus growth of $71 million and net income of $56.7 million for the fiscal year ended Dec. …

Travelers Insurance Finds Customers Stay Despite Rising Prices

Travelers Cos. Inc.’s quarterly profit handily beat Wall Street expectations as it charged more for insurance coverage while holding on to its customers, sending its shares up as much as 5 percent to an all-time high. Travelers, a Dow Jones …

P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI

Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus …

The Hartford’s Q3 Profit Soars; CEO Calls Hurricane Sandy ‘Manageable Exposure’

The Hartford Financial Services Group reported $401 million profit for its third quarter, up from $60 million profit posted during the same period one year ago. CEO Liam McGee said the Hartford generated strong third-quarter financial results, reflecting the continuing …

China’s Ping An Insurance Reports Profit Up 20.6%

Ping An Insurance Co. of China said  its quarterly profit rose 20.6 percent on strong premium growth but warned tougher conditions are ahead. Ping An said it earned 2.1 billion yuan ($337 million) in the three months ending Sept. 30. …

Allstate Reports Higher Q3 Profit; Expects ‘Significant But Not Material’ Sandy Losses

Home and auto insurer Allstate Corp. reported a larger profit for the third quarter on a decline in disaster losses and improving margins, as its chief executive said storm Sandy would not materially affect results this quarter. Allstate, one of …

P/C Insurers’ Profits Jump in First Half as Catastrophe Losses Drop

U.S. property/casualty insurers’ net income after taxes jumped to $16.4 billion in first-half 2012 from $4.8 billion in first-half 2011, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus climbing to 5.9 percent …

P/C Insurers Show Improved Results Mid-Year: Fitch

U.S. property/casualty insurers’ operating performance improved significantly in the first half of 2012, according to Fitch Ratings. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers improved to 96.2 percent through mid-year 2012 from 107.9 percent in the prior …

RRGs Financially Stable Despite Q1 Underwriting Losses: Demotech

First quarter 2012 reported financial information indicates risk retention groups continue to exhibit financial stability. RRGs reported a $10 million net underwriting loss collectively, however, they also reported $49.8 million net income for first quarter 2012, according to an analysis …

Berkshire Hathaway Doubles Profit on Lower Catastrophe Losses

Berkshire Hathaway said it generated $3.245 billion in net income overall, up from last year’s net income of $1.511 billion last year in the quarter. Last year’s results were hurt by $1.1 billion in insurance losses from the Japanese earthquake …