For a second consecutive year, underwriters of surplus lines insurance in the United States generated just modest growth in direct premium of 2.8 percent in 2016, according to a new A.M. Best special report. Surplus lines writers also posted an …
While U.S. commercial lines insurance had been a relatively bright spot among property/casualty insurers, the sector is facing some clear deterioration due to weakening premiums and poor loss experience. What’s more, Amercian International Group (AIG) alone is to blame for …
Private U.S. property/casualty insurers lost big in 2016, reporting a $4.7 billion net underwriting loss driven, in part, by significantly higher catastrophe-related property losses, according to ISO and the Property Casualty Insurers Association of America. The results stand in sharp …
Chubb Limited CEO and Chairman Evan G Greenberg said that the company’s 2016 financial results have reflected the benefits of the nearly $30 billion ACE/Chubb merger that created today’s Chubb about one year ago. “Operationally and culturally, our integration efforts …
Liberty Mutual Holding Co. and its subsidiaries reported net income of $455 million and $863 million for the three and nine months ended Sept. 30, 2016, respectively, versus a $427 million loss and $103 million gain for the same periods …
The Hartford reported net income of $438 million in third quarter 2016, an increase of 15 percent from third quarter 2015. Core earnings came in at $413 million in third quarter 2016, an increase of 13 percent from third quarter …
The world’s largest publicly traded property/casualty insurance company, Chubb Limited, reported net income for the quarter ended Sept. 30, 2016 of $1.36 billion, or $2.88 per share, compared with $528 million, or $1.62 per share, for the same quarter last …
Travelers Cos., the sole property/casualty insurer in the Dow Jones Industrial Average, posted its fourth-straight profit decline as weather-related costs climbed and investment income slipped. The stock had the biggest intraday fall since June. Third-quarter net income dropped 23 percent …
Catastrophes, lower favorable loss reserve development and challenging market conditions continued to pressure U.S. property/casualty insurers through the first half of the year, leading to an underwriting loss of approximately $2.3 billion and a 3.5 percent decline year-over-year in net …
Property/casualty insurers in North America saw their operating income decline by double digits in the first half of 2016, as investment income plunged and catastrophe losses rose. Fitch Ratings looked at 44 insurers and reinsurers that are either publicly traded …
