SNL Financial report News

Progressive Boosts Ad Spending But GEICO Still #1: SNL

Progressive Corp. boosted its advertising spending by nearly $70 million year over year to $595.4 million in 2013, the largest aggregate dollar increase among all U.S. property/casualty insurers, according to an analysis by SNL Financial. Though Progressive had the biggest dollar …

Insurance Underwriter, Broker Merger Activity Up 20%: SNL

Year-to-date through June 20, the insurance mergers and acquisitions (M&A) market witnessed 160 deal announcements, compared to 134 deals over the same period of 2013 — an increase of roughly 20 percent, according to SNL Financial. SNL said 34 insurance …

Lower Cat Losses Helped Home Insurers to First Profit Since 2007: SNL

The U.S. homeowners insurance industry benefited from lower catastrophe activity in 2013 and became profitable for the first time since 2007, according to an analysis by SNL Financial. According to SNL, all of the top 20 homeowners insurers in its market share …

GEICO Passes Allstate to Become 2d Largest U.S. Auto Insurer: SNL

Based on third quarter reports, GEICO Corp. has surpassed Allstate Corp. to become the nation’s second-largest private auto insurer. According to data compiled by SNL, GEICO logged $4.89 billion in direct premiums written during the third quarter of 2013, while …

Top 10 U.S. Aircraft Insurers: SNL

American International Group Inc. (AIG) has been reported to be the lead insurer for the recent Asiana Flight 214 tragedy in San Francisco. AIG’s role is not surprising, given its presence in Asia and focus on the aviation market, according …

SNL Report: Cat Bond Market Continues to Progress

A report from SNL Financial cites the recent activity in the insurance linked securities (ILS), or “Cat Bond” market is continuing to be an attractive alternative for insurers. SNL’s report notes that “even after an active 2012, the appetite for …