A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Columbia Mutual Insurance Co. (Columbia), Columbia, Mo., and its insurance subsidiaries. …
Alleghany Corporation said this week its preliminary estimate of after-tax loss related to Sandy — net of reinsurance and reinstatement premiums — would be approximately $288 million. Alleghany said this estimate reflects a consolidated pre-tax loss estimate, net of reinsurance …
Axis Capital Holdings Ltd. said this week its preliminary estimate of the total net financial impact of Sandy is around $300 million — net of tax and estimated recoveries from reinsurance and including estimated reinstatement premiums. The Pembroke, Bermuda-based provider …
Travelers Cos Inc. reported a second-quarter profit on Thursday but missed Wall Street expectations, as the insurer’s catastrophe losses fell from a year before but were still higher than historical norms. Travelers, a Dow Jones industrial average component, also said …
The Hartford said that it expects to report current accident year catastrophe losses of $280 million to $300 million before tax in the second quarter of 2012, as compared to $447 million before tax in the second quarter of 2011. …
The Chubb Corp. expects to report $200 million to $240 million in catastrophe losses for the second quarter, before taxes, due to severe hail and wind storms in the U.S., the insurer said on Tuesday. The charges amount to 48 …
A series of severe weather events across central and southern sections of the United States in April caused upwards of $1 billion in insured losses, according to Aon Benfield’s latest edition of its Global Catastrophe Recap report. During last month’s …
Ohio-based State Auto Financial Corp. has estimated first quarter 2012 results will include between $19 million and $21 million in pre-tax catastrophe losses. The company announced that the estimate reflects anticipated recoveries under the State Auto Group’s property catastrophe excess …
Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those losses would be enough …
Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best Co. The estimated total net pretax accident-year catastrophe-related losses …
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