Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from AM Best. The Bermuda-based specialty insurer and reinsurer had its long-term issuer credit ratings downgraded for the main …
Allstate first disclosed its Transformative Growth Plan in December, an effort to overhaul how it does business, boost efficiency and reduce expenses. During the Illinois-based property/casualty insurer’s Q4 2019 call with analysts, Allstate Chairman, President and CEO Thomas Wilson and …
Most insurance companies plan to either maintain current staffing or add new employees over the next 12 months, The Jacobson Group and Aon have found. At the same time, their new Semi-Annual U.S. Insurance Labor Outlook Study determined that companies …
American International Group said it will invest $1.3 billion over the next three years in its massive AIG 200 initiative, which is designed to revamp and improve core processes, technology infrastructure and services. The company has broken down the effort …
Argo Group International Holdings Ltd. is warning that its 2019 fourth quarter will feature some “unacceptable” results, particularly a $114 million underwriting loss. Separately, there are also added expenses relating to the abrupt departure of controversial former CEO Mark Watson …
Allstate first disclosed its Transformative Growth Plan in December, an effort to overhaul how it does business, boost efficiency and reduce expenses. During the Illinois-based property/casualty insurer’s Q4 2019 call with analysts, Allstate Chairman, President and CEO Thomas Wilson and …
Chubb has plenty to celebrate about its 2019 fourth quarter. The global insurer enjoyed a large jump in net income due mostly to rate hikes and property/casualty underwriting gains. Chubb’s catastrophe losses also declined. Chubb Chairman and CEO Evan Greenberg …
The Hartford closed out 2019 with gains in net income and net investment income, buttressed in part by its $2.1 billion acquisition of specialty insurer Navigators Group last May. Net income hit $543 million, or $1.49 per diluted share, during …
While the market is hardening and rates are increasing for nearly every commercial insurance line, workers’ compensation remains stubbornly soft. That reality is something that W.R. Berkley’s CEO flagged recently as a cause for concern. “The reality is that workers’ …
Digital home insurance managing general agency Hippo Insurance has acquired an early-stage startup in a bid to beef up its digital home insurance services for clients, Carrier Management reported. The insurtech said it acquired Sheltr, a San Francisco-based tech-enabled services …
