financial results News

Chubb Q2 Saw Net Income Dip, Premium Growth

Global insurer Chubb’s saw its net income dip slightly and its P/C combined ratio nudge higher during the 2019 second quarter, but price increases led to solid premium gains. “This quarter was about growth and pricing and we have good …

State Auto Financial Reports $11.9M Net Income in Q3 2014

Columbus, Ohio-based State Auto Financial Corp. reported third quarter 2014 net income of $11.9 million, or $0.28 per diluted share, versus net income of $18.5 million, or $0.45 per diluted share, for the third quarter of 2013. Net income from …

Meadowbrook Insurance Eyes Modest Growth in 2015

After two years of siphoning off unprofitable business, tightening underwriting and raising rates, Meadowbrook Insurance Group is looking forward to growing again, according to the company’s upper management. Even before ratings agency A.M. Best downgraded the Southfield, Mich.-based property/casualty insurer …

Progressive Reports 20% Profit Gain in Q4

Progressive Corp., the fourth- largest U.S. auto insurer, said profit climbed 20 percent in the fourth quarter as margins improved a year after Superstorm Sandy. Fourth-quarter net income rose to $299.8 million, or 50 cents a share, from $249.1 million, …

Progressive Premium Revenue Climbs, Profit More Than Doubles

Progressive Corp., the fourth- largest U.S. auto insurer, said profit more than doubled as premium revenue climbed after the company raised rates for coverage. But the insurer declined in New York trading as the results missed analysts’ estimates and growth …

P/C Insurers’ Results Much Better in 2012 Than 2011: A.M. Best

Underwriting and operating results for the U.S. property/casualty (P/C) industry improved substantially in 2012 compared with 2011. Net income increased by nearly 52 percent to $39.9 billion from $26.3 billion, reflecting lower underwriting losses and modestly increased net investment income …

Risk Retention Groups Continue to Display Financial Stability: Demotech

Risk retention groups continue to display strong and stable results, according to a recent analysis of year-end 2012 financial information. Demotech Inc., a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers, analyzed the reported …

Low Damage Claims Aid Reinsurers Q1 Earnings

Low damage claims and rising premiums helped to shield earnings at German reinsurers Munich Re and Hannover Re in the first quarter, as the sector battles to shore up profits amid record low interest rates. The two reinsurers said on …

Hanover Insurance Group Q1 Profit Rose 33% to $66M

The Hanover Insurance Group Inc. reported net income of $66.2 million for its 2013 first quarter, up 33.2 percent compared to $49.7 million income reported during the first quarter of 2012. Operating income for the first quarter was $59.9 million, …

U.S. P/C Industry 2012 Income $33.5B in Spite of $32B in Cat Losses

U.S. property/casualty insurers absorbed net insured catastrophe losses of more than $32 billion last year, but still managed to post $33.5 billion in net income in the aggregate—in part because catastrophe losses were lower than in 2011. Analysts commenting on …