Everest Group preannounced full-year 2024 earnings yesterday, disclosing about a 45% drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves. The company, which writes more than twice as much reinsurance premium as insurance premium, …
Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said in a new report. As companies “finished reporting their …
Property/casualty industry prior-year loss reserves have developed favorably for seven straight calendar years, according to a report from Fitch Ratings, which also said the industry’s reserve position remains adequate overall. Fitch Ratings found the industry reserve position to be adequate …
U.S. property/casualty insurers reported meaningful reserve redundancies in their 2010 earnings, Moody’s Investors Service said, marking the sixth straight year in which the industry has posted a benefit to earnings. During 2010 P/C insurers, excluding financial guarantors and mortgage insurers, …
