Pricing Is Only Bright Spot in ‘Anemic’ Earnings Picture for Reinsurers: Moody’s August 27, 2020 By Susanne Sclafane Even though investment returns rebounded from first-quarter levels during the second quarter of 2020, claims from COVID-19 created an “anemic...
Natural Catastrophe Claims Cost Insurers More Than Coronavirus in First Half: Fitch August 26, 2020 COVID-19-related claims were not the biggest driver of the North American property/casualty insurance industry’s overall combined ratio during the first...
Ralph Lauren Suit Alleges Fraud by Insurer Refusing to Cover Coronavirus Losses August 11, 2020 By Andrew G. Simpson Fashion firm Ralph Lauren Corp. is suing its insurer to recoup what it says has been a huge drop of...
CNA Reports Q2 Profit Despite COVID-19, Weather, Civil Unrest Losses August 6, 2020 By Mark Hollmer CNA Financial Corp. saw its 2020 second quarter net income sliced almost by half compared to the previous year due...
Insurer AXA, With H1 Net Income Down 40%, Warns of Future COVID-19 Shocks August 6, 2020 By Benjamin Robertson AXA SA’s profit sank in the first half as it booked a 1.5 billion-euro ($1.8 billion) charge for claims related...
AIG’s Coronavirus Hits Include Travel, Workers’ Comp, Property, Trade Credit Lines August 5, 2020 By Suzanne Barlyn Insurer American International Group Inc. racked up $730 million in COVID-19-related losses during the first half of the year, its...
AIG Q2 Profit Falls on Higher Catastrophe Losses, Lower Private-Equity Returns August 4, 2020 By Suzanne Barlyn Insurer American International Group Inc. on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe...
The Hartford Achieves Q2 Profit; Next Up Is Cutting Jobs, Investing in IT to Trim Expenses July 31, 2020 By Mark Hollmer The Hartford emerged from the second quarter’s COVID-19 related challenges with an overall profit and a plan to reduce expenses...
Chubb CEO Says U.S. Failure to Manage Covid-19 Hurts Economy, Global Image July 31, 2020 By Mark Hollmer Global insurer Chubb’s employees have begun to return to their offices in many countries around the world as governments have...
Hanover Insurance Sees Profit Jump, Limited COVID Impact in Q2 July 29, 2020 The Hanover Insurance Group Inc. reported net income of $115.2 million in the second quarter of 2020, compared to $74.0...