2024 financial results News

Premium Growth Is Good but Disciplined Growth Is Better: Lloyd’s Execs

The Lloyd’s executives said the market has continued to demonstrate its value to stakeholders by delivering 6.5% premium growth while maintaining underwriting discipline. Lloyd’s saw a continuation of positive returns with profit before tax of £9.6 billion ($12.4 billion) during …

Generali Posts Record Profit Ahead of Shareholder Vote on CEO Reappointment

Italy’s biggest insurer Generali reported on Thursday a record profit for 2024, ahead of a key shareholder vote next month on the reappointment of CEO Philippe Donnet. The insurer, historically a bulwark of Italy’s financial system, also said it could …

Berkshire, Progressive Are Underwriting Profit Leaders; Industry Sets Income Record

S&P Global Market Intelligence expects the U.S. property/casualty insurance industry to post more than $100 billion of net income for 2024—and that the biggest underwriting profits contributing to the figure will come from units of Berkshire Hathaway and Progressive. The …

Liberty Mutual Q4 Income Up Nearly 90%, Year Earnings Climb

Liberty Mutual Holding Co. reported fourth quarter 2024 net income of $1.2 billion – a nearly 90% increase over the same period the prior year. Boston-based Liberty Mutual’s total combined ratio of 91.5 for the fourth quarter was the lowest …

AmFam Reports Underwriting Profit for 2024 to Reverse Losses Last Two Years

After two years of combined ratios over 110, American Family Insurance reported an underwriting profit in 2024—with a 96.6 for the year for all property/casualty lines it writes. The improvement from a 110.8 in 2023 and 111.4 in 2022 came …

Progressive’s Margins Leave Room for Tariff Impacts: CEO

With its 2024 combined ratio falling comfortably more than 7 points below a targeted level of 96, Progressive has room to deal with the impacts of tariffs on car repair and replacement costs, the chief executive said. But that doesn’t …

State Farm 2024 Underwriting Losses Shrink on Auto Results

After reporting underwriting losses of $13 billion in 2022 and $14 billion in 2023, State Farm recorded another underwriting loss for 2024—but narrowed it thanks to its auto insurance results. State Farm reported a 2024 net income of $5.3 billion …

Insurtech Root Finishes 2024 With First Yearly Profit

Root Inc. followed up its first ever quarterly net profit in the third quarter with another in the last quarter of 2024, and finished with the first profitable year in the company’s history. The Columbus, Ohio-based parent company of Root …

UK’s Aviva Beats Profit Estimates on Double-Digit Growth in General Insurance Premiums

British insurer Aviva beat annual profit expectations on double-digit growth in its general insurance premiums in 2024, and said its planned 3.7 billion pound ($4.69 billion) acquisition of smaller rival Direct Line was on track. The company, which offers car, …

AXA Earnings Beat Estimates as it Avoids Worst of Los Angeles Fire Claims

French insurer AXA reported better-than-expected full-year earnings on Thursday, boosted by increased premiums from individual insurance policies, fewer claims and increased margins for its natural catastrophe coverage. Europe’s third-biggest insurer by market capitalization said it expected its results this year …