Allstate
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The executive said inflation isn’t completely gone but is now “more understood”. -
Cat losses in Q3 were light as peak hurricane season passes without incident.
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Activists from the left and the right are focusing on insurance, often on the same issues.
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The promotions are part of the carrier's strategy to increase property-liability market share.
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Cat losses in August were below historical trends, but we are not in the clear just yet.
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IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
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Cat losses in July were below historical trends, but all eyes are on peak hurricane season.
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Full-stack carriers fail to outclass incumbents with no clear platform differentiation.
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The research team presents the June cat heatmap.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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Major insurance industry groups and companies have recently pressed lawmakers to include the provision.
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Two wind and hail events were responsible for 60% of the total.
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Insurers haven’t announced concrete steps – yet.
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But automotive repair costs are likely to increase faster than home repair.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The carrier surpassed the retention on its annual aggregate reinsurance cover for the year to March 31.
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January cat losses continue to run higher than prior years, with no help from latest wildfires.
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The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.
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The investment firm’s holdings were down to $59mn at the end of Q4.
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The carrier has not added new business in the state since 2007.
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The carrier has been reducing its presence in the state since 2007.
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The move will expand Nationwide’s stop loss insurance sales to SMEs.
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The estimate includes $102mn from Milton and $114mn Helene development.
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The activist investor’s position at the end of Q3 was valued around $116.3mn, SEC filings show.
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Insurers are fighting to recoup claims they have paid out.
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Fifteen events caused estimated losses of $306mn.
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The news team runs you through this week’s key M&A deals.
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Independent litigation threatened a $4bn settlement with wildfire victims.
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Total catastrophe losses stemmed from 20 events and were estimated at $587mn.
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NatGen allegedly collected $500mn associated with the fraud.
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A quick roundup of today’s need-to-know news, including the DoJ/NatGen lawsuit and RenRe's earnings call.
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The victims claim insurers shouldn’t get settlement cash before they’re made whole.
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A quick round-up of today’s need-to-know news, including Ryan Specialty, Marsh, Allstate.
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Allstate’s total pre-tax cat losses for H1 2024 were $2.85bn versus an estimated $4.39bn in H1 2023.
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Investor skepticism visible in stock prices and short interest data over first half of 2024.
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This takes pre-tax year-to-date cat losses to $2.62bn.
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MGAs outpaced the P&C industry for years, but growth has begun to stagnate.
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Changes in investment strategy and strong results show carriers can weather financial storms.
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This takes pre-tax cat losses for the calendar year to $1.23bn
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This follows February’s cat losses coming in below the $150mn reporting threshold.
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This follows January pre-tax cat losses of $276mn.
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Two events comprised approximately 80% of the losses.
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The carrier expects to "get smaller in New Jersey" due to lack of rate adequacy.
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Insurance Insider US runs you through the earnings results for the day.
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Unfavorable prior year reserve re-estimates, excluding catastrophes, totaled $199mn in Q4, with approximately $148mn related to personal auto, including costs for litigation claims.
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For the month of November, Allstate brand’s auto rate increases totaled $262mn, after implementing $517mn and $1.49bn of rate increases in Q3 and Q2, respectively.
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Personal auto carriers risk falling behind in the battle between loss costs and approved rate declines, while homeowners carriers’ double-digit filings might not be enough to keep up.
