Allstate Corp. reported net income fell to $355 million in the second quarter, down from $645 million, as the insurer coped with rising auto claims costs. The Allstate brand suffered an underwriting loss for the quarter. The company stressed that …
Hannover Re, the world’s third-largest reinsurer, said second-quarter profit rose 19 percent, as lower catastrophe claims helped a surge in earnings from property and casualty. Net income increased to 252.2 million euros ($274 million) from 211.5 million euros a year …
W.R. Berkley Corp.’s chairman and CEO slammed the surge of merger and acquisition activity hitting the property/casualty industry in recent months as something driven more by “management ego” than true business needs. “Consolidation that is happening now is frequently about …
The Hartford reported core earnings of $389 million for the second quarter 2015, an increase of $245 million from $144 million in second quarter 2014. The increase was due in part to improved underwriting results with lower catastrophe costs in …
Zurich Insurance Group AG, Switzerland’s biggest insurer, will cut costs by more than planned as it seeks to reverse a drop in earnings. Chief Executive Officer Martin Senn said he will make additional annual savings of at least $1 billion …
Despite higher catastrophe costs, Liberty Mutual Holding Co. Inc. and its subsidiaries reported net income of $276 million for the three months ended March 31, 2015, an increase of $11 million or 4.2 percent over the same period in 2014. …
Zurich Insurance Group AG, Switzerland’s biggest insurer, said first-quarter profit fell 4 percent on lower earnings from general insurance and higher tax payments. Net income declined to $1.22 billion from $1.28 billion a year earlier, the Zurich-based insurer said in …
Munich Re announced that it realized a profit of €790 million [$896 million] for the first quarter of 2015, compared to €941 million [$1.067 billion] in Q1 2014. Despite the lower figure, Munich Re said it is “still aiming for …
RSA Insurance Group plc, the U.K.’s second-largest non-life insurer by market value, said revenue for the first quarter edged higher as it disposed of assets. Net written premiums for its core operations rose 1 percent on a constant currency basis …
Allianz SE, Europe’s biggest insurer, said first-quarter profit climbed 11 percent, even as investors withdrew funds from its asset manager Pacific Investment Management Co. The shares surged the most in six months. Net income increased to 1.82 billion euros ($2 …
