MetLife Inc., the largest life insurer in the United States, said Thursday it would take up to $275 million in third-quarter charges, in part to increase reserves for policies where it may know the holder is dead but no claim …
Insurer Hartford Financial Services Group warned Monday that its third-quarter catastrophe losses would be substantially higher than a year earlier, mostly as a result of last month’s Hurricane Irene. The Hartford, in a slide presentation for a Barclays Capital conference, …
Hurricane Irene is likely to cause more insured losses in the Bahamas than 1999’s devastating Hurricane Floyd, catastrophe modeler AIR Worldwide said Thursday, even as the storm increasingly tracks toward a weekend landfall in the greater New York City area. …
Travelers Cos. Inc. reported a second-quarter loss, missing analysts’ estimates by a huge margin as the property insurer suffered more than $1 billion in catastrophe losses from record-breaking tornadoes in April and May. Travelers warned in early June that it …
The Allstate Corp. announced $0.3 billion, pre-tax, in estimated catastrophe losses for the month of June 2011. June catastrophe losses comprised 13 events. Allstate previously announced $2.0 billion in estimated pre-tax catastrophe losses for the months of April and May …
Reacting to the recent spate of major natural catastrophes, insurers are being more selective in the capital they deploy and have in some cases withdrawn from catastrophe affected regions and loss-making sectors of business, according to leading insurance broker Marsh. …
With rivers still running above flood stage and soils saturated, forecasters predicted Wednesday this summer flooding season could rival the worst in U.S. history. In the “Great Flood of 1993,” record-breaking floods from April to August cost more than $25 …
The fact that U.S. property/casualty insurers’ earnings have taken a hit due to recent catastrophe losses should not by itself mean insurer ratings will change, according to one rating firm. As long as the insurers that its actuaries rate have …
Allstate Corp., the largest publicly traded U.S. home and auto insurer, said it lost $2 billion in April and May from severe tornadoes and thunderstorms, nearly equaling its catastrophe losses for all of 2010. The devastating two-month period, taken as …
