Competition is tightening across the P&C insurance market. With just 2 percent of new consumers entering the personal lines auto insurance market last year, and with retention rates hovering around 88 percent, most insurers face a zero-sum proposition in which …
Berkshire Hathaway Inc. on Saturday said gains in its stock investments were behind its good first-quarter profit. Better results from its GEICO auto insurer and BNSF railroad units boosted operating results. The conglomerate’s $21.66-billion overall first quarter profit compared with …
Specialty insurer RLI Corp. announced that its chief financial officer is retiring and it has made other executive changes. CFO Thomas Brown, who is also a senior vice president, will retire on July 1, 2019 after eight years with RLI. …
Robots are getting more humanoid every day, but they still can’t be sued. So a Hong Kong tycoon is doing the next best thing. He’s going after the salesman who persuaded him to entrust a chunk of his fortune to …
Insurer American International Group Inc. reported first-quarter earnings that trounced Wall Street estimates on Monday, as its general insurance business posted its first underwriting profit since the financial crisis. Shares of the company rose more than 6 percent after Chief …
The Federal Reserve escalated its warnings about the perils ofleveraged loan Monday, saying firms with the worst credit profiles are the ones taking on more and more debt. The Fed also left a question unanswered: Is it going to do …
Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional auto insurers. “The success of the auto companies …
AmWINS Group, Inc., in conjunction with its recent acquisition of The Flood Insurance Agency (TFIA), has launched FloodFLEX, a new commercial property flood product designed to eliminate out-of-pocket expenses not covered by traditional flood insurance. FloodFLEX is a policy endorsement …
Boeing Co. did not tell U.S. regulators for more than a year that it inadvertently made an alarm alerting pilots to a mismatch of flight data optional on the 737 MAX, instead of standard as on earlier 737s, but insisted …
Chubb Chairman and CEO Evan Greenberg referred to his company as being in the midst of a “rational market” and appeared pleased with its direction and tone so far in 2019. “In the first quarter, in total, with all lines …
