combined ratio News

Zurich Property Unit Leads Way to Meet CEO’s Goals

Zurich Insurance Group AG got a boost from its property & casualty business, putting the company on track to meet Chief Executive Officer Mario Greco’s three-year restructuring goals. The Swiss insurer’s biggest unit saw higher profit and posted a lower …

Fitch: Workers’ Comp Profits Remain Strong, Weaker Pricing Ahead

The U.S. workers’ compensation insurance market reported strong underwriting performance for the third consecutive year in 2017, with an industry statutory combined ratio of approximately 92 percent, according to Fitch Ratings. However, a steady decline in premium rates from increased …

Fitch: U.S. P/C Personal Lines Results Decline Despite Auto Improvement

Underwriting losses in the U.S. P/C personal lines segment moved higher for the fourth straight year in 2017, though this time another segment drove the increase, according to Fitch Ratings in a new report. Personal lines are the largest major …

Catastrophes Affect Lloyd’s Profits, First Loss in 6 Years

Following one of the costliest years for natural catastrophes in the past decade, Lloyd’s, the specialist insurance and reinsurance market, announced an aggregated market loss of $2.7 billion for 2017. The key financial figures are: Aggregated market pre-tax loss of …

Despite 2017 Catastrophes, Industry Surplus at All Time High

Due to multiple catastrophes during the first nine months of 2017, property/casualty insurers saw profits plummet, according to the latest Verisk report on the state of the industry. Even so, P/C insurers are doing well, said Beth Fitzgerald, senior vice …

After Cost Cutting Allianz Reports 28% Gain in Quarterly P/C Profits

As Allianz SE Chief Executive Officer Oliver Baete slims down the insurer to cut costs, rising second-quarter profit helped by lower natural disaster claims rewarded his strategy. Operating profit jumped 23 percent to 2.9 billion euros ($3.4 billion), Europe’s largest …

P/C Insurers Report $4.7B Net Underwriting Loss in 2016

Private U.S. property/casualty insurers suffered a $4.7 billion net underwriting loss in 2016-following an $8.9 billion net underwriting gain in 2015-and experienced a 25 percent drop in net income after taxes to $42.6 billion from $56.8 billion a year earlier, …

Commercial Property Insurer FM Global Reports Rise in Gross Premium, Profits in 2016

FM Global, a global business property insurer, posted an improved combined ratio of 83.2 percent in 2016—compared to 85.3 percent a year earlier—which was a market-leading result for the fourth consecutive year. Total gross premium in force increased to $5.43 …

Analysts Skeptical of Zurich Insurance Cost-Cutting, Future Growth

Zurich Insurance Group AG fell in Zurich trading after posting a quarterly profit supported by one-time gains as Chief Executive Officer Mario Greco presses ahead with an overhaul of Switzerland’s largest insurer. Net income for the three months through December …

P/C Insurers Report $1.7B Underwriting Loss in First 9 Months of 2016

Private U.S. property/casualty insurers suffered a $1.7 billion net underwriting loss in the first nine months of 2016-following a $7.3 billion net underwriting gain in nine-months 2015-and experienced a drop in net income after taxes to $31.8 billion from $44.1 …