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Allstate Reports $731M in Q1 Pretax Catastrophe Losses

Apr 19 2024 // Allstate Corporation estimated pretax catastrophe losses of $731 million, with $328 million from the month of March. Six events contributed to the $343 million total for March — before favorable reserve re-estimates...

Time-Tested Loss Reserving Methods Challenged: AM Best

Apr 19 2024 // Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said...

Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers

Apr 19 2024 // With its personal lines business benefiting from the impact of rate increases earning into the book, and the commercial lines insurance premium changes staying in double-digits, Travelers reported $1.1 billion in net...

Marsh McLennan Reports Better Than Expected First Quarter Profit

Apr 18 2024 // Marsh McLennan reported a better-than-expected quarterly profit on Thursday, helped by an increase in interest income the insurance brokerage earned from funds held on behalf of clients. The company’s shares rose...

Accuweather: Record Warm Winter Costs Businesses Billions in Losses

Apr 18 2024 // Unseasonably warm winter weather cost businesses and event planners in the northern Plains and upper Midwest billions of dollars in estimated losses, according to estimates from Accuweather. Minnesota, North Dakota,...

Travelers CEO on Q1 Results: ‘We’re Firing On All Cylinders’ With Net Income Up 16%

Apr 17 2024 // The Travelers Companies, Inc. today reported first quarter net income of $1.123 billion, compared to $975 million in the prior year quarter. Core income in the current quarter was up 14% to $1.096 billion, compared to $970...

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