October 29, 2018
Property/casualty insurers’ operating environment today is very different than just a few short years ago. Lines that were stable are now volatile and those that have struggled are looking profitable, reinsurance intermediary Guy Carpenter & Co. says in its 2018 …
June 18, 2018
Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal automobile insurance contributed largely to underwriting losses. …
March 20, 2018
The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The 2017 underwriting loss was mainly due …
February 9, 2018
American International Group reported a net loss of $6.7 billion for the fourth quarter of 2017, compared to a net loss of $3.0 billion in the prior-year quarter. The fourth quarter of 2017 net loss included a charge of $6.7 …
February 8, 2018
The Allstate Corp., like many carriers, faced an enormous hit from natural catastrophe losses in the 2017 fourth quarter. Investment returns soared by double digits, however, and the Trump tax cuts gave it a one-time gain, helping to ensure the …
February 7, 2018
Rating agency A.M. Best expects the U.S. property/casualty insurance industry to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses. The expected net underwriting loss for 2017 of $29.3 billion — which follows a $6.5 billion …
October 19, 2017
The Travelers Companies today reported $293 million in net income for the third quarter despite absorbing more than $700 million in catastrophe claims. The $293 million in net income was a 59 percent decline from the $716 million in last …
August 29, 2017
The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the same period a year ago. This financial review …
August 7, 2017
Warren Buffett’s Berkshire Hathaway insurance and reinsurance businesses lost money or gained less in underwriting in the second quarter and first six months of 2017 compared to last year while his railroad, manufacturing, energy and utilities businesses all reported increased …
August 4, 2017
Liberty Mutual Holding Co. Inc. reported net income $126 million for the three months ended June 30, 2017, an increase of $111 million over the same period in 2016 thanks to improved investment returns. The rise in net income offset …