Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million. The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low totals. Consolidated catastrophe losses for the fourth quarter 2023 totaled …
Insured losses from major natural catastrophes in 2018 totaled roughly $71.5 billion, only slightly more than the annual average since 2011 but the third-highest total during the eight-year period, according to the Summary of Natural Catastrophe Events 2018 report, published …
American International Group Inc.’s Brian Duperreault spent his first year as chief executive officer on a rebuilding effort, and his biggest acquisition is the one that can magnify the insurance giant’s exposure to losses from catastrophes like Hurricane Michael. AIG …
The private U.S. property/casualty insurance industry saw its net income after taxes drop to $7.7 billion in first-quarter 2017 from $13.4 billion in first-quarter 2016-a 42.2 percent decline-and its overall profitability as measured by its annualized rate of return on …
The National Security Group, Inc., released estimates of 2017 year to date spring storm losses incurred by property/casualty subsidiary National Security Fire & Casualty, a primarily personal lines insurer offering coverage in 10 states, and a preliminary estimate of the …
Property/casualty insurers face a tough year, according to a newly released report published by S&P Global Market Intelligence. The 2016 U.S. P&C Insurance Market Report indicates that a combination of elevated catastrophe losses, unfavorable results in the private passenger auto …
Catastrophe activity in the U.S. led to $3.8 billion in insured losses in 29 states during the 2016 first quarter, with much of the damage hitting Texas. Those events were the worst in a decade in terms of frequency and …
Cyber, technology and casualty catastrophe and reserving are three key risks affecting property/casualty insurers that continue to emerge, according to Guy Carpenter & Company, a wholly owned subsidiary of Marsh & McLennan Companies. In a new report published this month, …
Allstate Corp., the largest U.S. publicly traded seller of auto and home insurance, said first-quarter profit rose 13 percent as margins improved at the property/liability business and catastrophe losses fell. Net income climbed to $677 million, or $1.53 a share, …
U.S insured property values as of 2014 exceed $90 trillion, but the bulk of that is increasingly concentrated in vulnerable coastal areas. With that in mind, new risk metrics could better help monitor exposures, Karen Clark & Co. concluded in …