Five publicly traded insurance brokers reported strong third quarter revenues, with their executives using adjectives such as “outstanding,” “terrific,” “excellent,” and “strong” to describe their companies’ financial performances. In a wrap-up of the brokers’ results, listed in descending order by …
CNA Financial reversed a third quarter loss of $42 million in 2022 with net income of $258 million this year on higher investment income, positive underwriting income and lower catastrophe losses. The Chicago-based insurer said the combined ratio in its …
Third quarter net income at Chubb Ltd. shot up to $2.04 billion, an increase of nearly 158% over last year’s $792 million during the same quarter. Chubb’s P/C underwriting income was up about 84% to $1.3 billion in the third …
Munich Re raised its profit target for the year as lower-than-expected claims helped push earnings in the third quarter past analysts’ estimates. The reinsurer said it expects a profit of €4.5 billion ($4.8 billion) for this year, up from an …
Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development. As one of the first insurers to report quarterly results, New York-based Travelers said it …
Progressive Corp. posted significant improvement in third quarter earnings late last week – with net income of $1.12 billion compared to $124.1 million a year ago during the same period. Progressive gave a snapshot of it’s Q3 earnings in announcing …
Liberty Mutual Holding Co. reported a second-quarter net loss of $585 million, driven by catastrophe losses of about $2.27 billion. Tim Sweeney, president and CEO, said weather losses were primarily from widespread wind and hail events in Texas, Oklahoma, and …
As it reported a net loss in the second quarter of about $97 million, Kemper Corp. said Monday that it is exiting the preferred home and auto insurance market. Kemper said it will “actively reduce the business immediately,” and non-renew …
Warren Buffett’s Berkshire Hathaway Inc. posted gains in operating profit as strength in its insurance businesses helped counter inflationary pressures that have weighed on the sprawling conglomerate in the last year. The firm reported $10.04 billion of operating profit for …
Swiss Re AG said first-half net income rose more than ninefold to $1.4 billion from a year earlier, driven by contained natural catastrophe losses and a rebound in its life and health business to pre-pandemic levels. Net premiums earned and …
