Fitch Sees 2020’s Personal Auto Insurer Profits as Unsustainable March 8, 2021 Highly profitable sub-90 personal auto combined ratios recorded by 10 publicly traded property/casualty insurers in 2020 don’t look anything like...
Startup Auto Insurer Root Reports $363M Loss in 2020; Will Spend to Grow in 2021 March 4, 2021 Root Inc.’s second earnings report as a public company reveals that the digital auto insurance startup continues to lose substantial...
Hiscox Cites Loss on COVID, BI Dispute ‘Brand Damage’; Will Alter Liability, Cyber Books March 3, 2021 By Muvija M British insurer Hiscox reported a big loss for 2020 after a jump in claims from businesses disrupted by the COVID-19...
GEICO Drives Up Berkshire 2020 Underwriting Profit March 1, 2021 By Susanne Sclafane With GEICO’s 2020 underwriting profit more than doubling above the level recorded in 2019, Berkshire Hathaway’s full-year property/casualty underwriting income...
UK Insurer RSA Reports 15% Hike in 2020 Operating Profit February 26, 2021 UK insurer RSA has reported a 2020 business operating result of £751 million ($1.1 billion), up 15% from £656 million...
Irish Insurer FBD More Than Doubles Money Set Aside for Lockdown-Related Claims February 26, 2021 DUBLIN – Irish insurer FBD more than doubled the money set aside to cover lockdown-linked claims to 65 million euros...
Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B February 25, 2021 Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29...
AXA Reports 18% Drop in Net Income During 2020 with COVID Claims of $1.8 Billion February 25, 2021 AXA reported net income of €3.16 billion (US$3.8 billion) during 2020, an 18% drop from €3.86 billion (US$4.7 billion) in...
Liberty Mutual Boosts Profit for Q4 and Year February 25, 2021 Liberty Mutual reported net income of $162 million for the fourth quarter and $758 million for the full year 2020,...
QBE Reports Full-Year 2020 Loss of $1.5 Billion; No Final Dividend Declared February 22, 2021 QBE officially announced a $1.5 billion bottom-line net loss for 2020 late last week, confirming a figure the Australia-based insurance...