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The company is also prepared for potential M&A activity.
The SME and middle market segments remain ‘pretty healthy’.
The Insurance Insider US news team runs you through the earnings results for the day.
She joins the brokerage after 18 years at Canada’s Intact.
But there’s little concern about those pressures creeping into SME accounts.
The Insurance Insider US news team runs you through the earnings results for the day.
The supply chain in personal auto, and the impact on inflation are areas of concern.
The Insurance Insider US news team runs you through the earnings results for the day.
IFC corporate director and chairman of IFC GSL advisory board Clarke will succeed Miller.
Ken Anderson, CFO for RSA, will succeed Marcotte.
Executives were speaking after the company’s Q3 CoR rose 5.6 points to 103.9%, driven by 22 points of cat losses.
The Insurance Insider US news team runs you through the earnings results for the day.
The losses are "well above expectations" and above 2024 cat loss guidance.
Low Q2 cat losses spurred combined ratio improvement, but wildfires and floods loom.
The Insurance Insider US news team runs you through the earnings results for the day.
The carrier’s goal for its specialty arm is to achieve $10bn in written premiums and a sub-90% CoR by 2030.
The Insurance Insider US news team runs you through the earnings results for the day.
Scott Reinke joins the specialty insurer’s transactional surety team from Arch.
Insurance Insider US runs you through the earnings results for the day.
She will have responsibility for Intact’s Quebec, West, Ontario and Atlantic divisions.
Inside P&C’s morning summary of the key stories to get you up to speed fast.
The CEO said Intact has done in-depth climate modeling “peril-by-peril, province-by-province” covering the next 15 years.
The Inside P&C news team runs you through the earnings results for the day.
The new number, an update from the C$570mn ($419mn) estimate reported on August 31, reflects non-weather events.
The business generated written premiums of £530mn in 2022 and had an average combined ratio of 96% across 2021 and 2022.
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The executive said inflation isn’t completely gone but is now “more understood”. -
The Insurance Insider US news team runs you through the earnings results for the day.
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State regulators have largely avoided enforceable AI regulations, but bad news could change that.
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Some disagreement remains in where rate declines have been swiftest and how much further they could go.
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The regulations are designed to address long-term solvency concerns.
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Erbig joins after more than 20 years in finance-related positions at Liberty Mutual.
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Normalized growth and peak multiples confirm we are headed towards a Darwinian race.
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Selective’s CEO earlier attributed Q3 adverse development to the NJ market.
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Cat losses in Q3 were light as peak hurricane season passes without incident.
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Early Q3 earnings reports point to worsening market conditions.
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The selloff may hint at headwinds for equity investors.
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The firm also expects to increase share repurchases in Q4 to roughly $1.3bn.
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The carrier reported favorable reserve development of $22mn compared to $126mn in Q3 last year.
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State Farm is under investigation as its premiums have been rising “drastically".
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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 division mostly places higher up the tower, where many insurers have taken action to address SAM losses.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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When owners are not paying attention, discipline and governance are not top priorities.
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It is understood around $1bn of premiums could be ceded to the proposed vehicle.
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The promotions are part of the carrier's strategy to increase property-liability market share.
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The risk also ranked as a top three concern for companies of all sizes.
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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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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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IBHS CEO Roy Wright says insurers need a comprehensive approach to resilience.
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The ratings agency cited enhanced scale and diversification through organic growth.
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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 firm’s subsidiary in India paid $1.47mn in bribes to officials at state-owned banks and raised revenue of $9.2mn.
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Auto, umbrella and excess lines recorded mid-double-digit rate increases in Q2.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Roughly half a year since the LA fires, brokers said there’s hope things are turning around.
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The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.
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Court documents show Travelers subsidiary Northfield Insurance is the insurer.
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The research team presents the June cat heatmap.
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Pricing slowdown and reserving concerns are the hot-button topics as earnings kick off.
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The class can collectively challenge State Farm’s property claims calculations.
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On the rate environment, Schnitzer said the amplitude of the pricing cycle is shrinking.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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Cat losses declined to $927mn from over $1.5bn a year ago on windstorms and hailstorms.
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Last month, Insurance Insider US revealed that former GTS Americas head Scott Pegram had left the company.
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The broader legislation narrowly passed the Senate and now heads to the House.
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The ruling comes as insurers face growing legal pressures following the January blazes.
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The partnership is being formed via Liberty Mutual’s Ironshore subsidiary.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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Fallon will retire in January 2026 after 30 years at the company.
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Major insurance industry groups and companies have recently pressed lawmakers to include the provision.
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Scott Pegram had been at Liberty Mutual for over six years in various senior roles.
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Marsh McLennan CEO Doyle dubbed legal system abuse a "tax” on US economy.
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Lara approved an interim rate increase for the company just weeks ago.
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The deal leaves premier surety as Travelers' sole Canadian portfolio.
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The company seeks the full 30% homeowners’ rate request it made last June.
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The executive has been with the firm since 2011.
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Two wind and hail events were responsible for 60% of the total.
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State Farm will need to provide its CA subsidiary with a $400mn surplus note.
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“Models aren't going to tell you what the emergent risks today are,” Dolan said.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Hits to personal auto, workers’ compensation led to a drop in NWP.
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During first quarter earnings calls, insurers argued that they can mitigate volatility.
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Insurers haven’t announced concrete steps – yet.
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The Canadian conglomerate’s total cat losses in Q1 reached $781mn, including $692.1mn from the fires.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The executive has been with the firm’s underwriting team for over 12 years.
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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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A one-time impact would be a mid-single digit increase to physical injury auto severity.
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The business insurance segment booked a CoR of 96.2%, up 2.9 points YoY.
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Korte had been serving as interim president of the unit since December.
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The carrier has received 12,300 claims as of 28 March.
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The decision is the first of its kind under the new Trump administration.
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The new CEO hints at expansion into MGA markets.
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Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
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Executives see earnings benefits from workers’ comp beginning to diminish.
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Debbie Chalkley has been appointed CFO of Fairfax India.
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The carrier has seen increased legal system abuse in US small commercial and excess and umbrella.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Customers will keep their agent relationship and policies will not be impacted.
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The carrier has also received 11,750 fire-related claims so far this year.
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The company is seeking an emergency rate increase after the devastating Los Angeles wildfires.
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State Farm General has asked California regulators for an emergency rate increase.
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The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
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A quick roundup of our best journalism for the week.
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January cat losses continue to run higher than prior years, with no help from latest wildfires.
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Sources said California regulators need to show they’re receptive to private insurer needs.
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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 insurer is seeking a 22% interim raise, but the request is currently on hold.
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Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
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The insurance commissioner said the carrier has not shown the need for price increases.
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The executive told analysts Fairfax has no plans of walking away from its current cat position.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The insurer disclosed the estimates as it seeks emergency rate hikes from regulators.
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Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
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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 company says the recent wildfires will be the costliest in its history.
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The move will expand Nationwide’s stop loss insurance sales to SMEs.
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The carrier has around $2.5bn-$4bn of reinsurance cover specifically for California risk.
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The company received over 10,100 home and auto claims as of January 27.
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The insurer’s strong Q4 results might not read across to the rest of its peer group.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Cat activity was a “modest” $175mn for Q4, but still up year over year.
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The insurer also added $150mn cat coverage while reducing the total ceded premium for this treaty.
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Cat losses rose to $175mn, fueled by Hurricane Milton and higher Helene estimated losses.
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A state-mandated, one-year moratorium on non-renewals is also in place.
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‘Emotionally driven’ claims by non-profits underscore their unique D&O exposures, according to Travelers' Nicole Murphy.
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The company’s stock price has plummeted in the wake of the LA wildfires.
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Brian Young is now Fairfax president, while Carl Overy is Odyssey CEO.
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The company has been buying out Omers’ shares since 2015.
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The carrier has seen two other exits from its US tax team this year.
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A quick roundup of our best journalism for the week.
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Newcomers enter on the belief that they have a “better mousetrap”, said Donato Monaco.
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The appointment will be effective January 1.
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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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The renewal book has auto, home, renters and condo policies, among others.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The company has grown its premium base by 12% annually over the last five years.
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In Partnership With AXISAXIS has Combined its A&H Insurance and Reinsurance business, which gives the company an advantage in the market, said Jay Hamilton, head of the newly combined operation.
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In Partnership with Moody'sJoin Insurance Insider for a free webinar, offered in partnership with Moody’s, at 10:30 EST/15:30 GMT on 22 January
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How do struggling governments across the globe tackle stagnating economic growth?
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From Insurance Insider
Insider Outlook: Year in Review
From cat losses from wildfires and hurricanes to litigation battles to the shifting commercial insurance landscape — these are the stories that defined our industry in the last 12 months.
In celebration of Insurance Insider US Honors Awards, please enjoy our Year in Review video.
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