Just shy of two weeks after closing on their merger, ACE Ltd. and Chubb Corp. released financial results for their last quarter and year as separate entities. On January 14, 2016, ACE closed on its acquisition of Chubb Corp. creating …
American International Group Inc., the insurer facing pressure from activist shareholder Carl Icahn for a breakup, posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400 senior- level jobs. The net loss of …
The Hartford reported core earnings of $364 million for the three months ended Sept. 30, a 24 percent or $113 million decrease from core earnings of $477 million in third quarter 2014. The insurer said the decrease was principally due …
The property/casualty insurance industry is likely to post a third consecutive year of underwriting profits, considering its performance in the first half of the year and barring any late year catastrophic losses, according to rating agency A.M. Best. The P/C …
“Things got a bit messy in the second quarter.” That’s how David Long, chairman and CEO of Liberty Mutual Holding Co., summarized his firm’s second quarter results, which saw a 36 percent decline in consolidated net income to $249 million, …
Warren Buffett’s Berkshire Hathaway Inc. posted second-quarter profit that missed analysts’ estimates because of higher claims costs at insurance units including Geico. Net income dropped 37 percent to $4.01 billion, or $2,442 a share, from $6.4 billion, or $3,889, a …
The property/casualty insurance industry has made money on its personal lines underwriting since 2013 but that is likely to change in 2015. At the same time, commercial auto insurance should still make an underwriting profit in 2015 although it is …
Recent merger deals in the insurance industry among its competitors and carrier partners should not hurt Marsh & McLennan (MMC) and could instead make its insurance and reinsurance advisory services even more important, according to Dan Glaser, MMC chief executive …
The Chubb Corp., which on June 30 agreed to be acquired by ACE Limited for $28 billion, reported net income in the second quarter of 2015 totaling $494 million, just a notch below the $499 million achieved in the second …
Property/casualty insurers catastrophe losses in North America for the first-half of this year were down 36 percent to $8.1 billion from 2014’s total of $12.6 billion, making it the lightest catastrophe first half since 2010. The $8.1 billion in first-half …
