U.S. captive insurance companies rated by A.M. Best ended 2016 in strong form, with a 16 percent year-over-year increase on pretax operating income to $1.6 billion, which included more than $803 million in underwriting profit, according to an A.M. Best …
American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened to $3.04 billion, or $2.96 a share, from a …
Markel Corp. ended 2016 with a drop in net income and increase in the combined ratio, with Hurricane Matthew and the Canadian wildfires to blame for higher catastrophe losses. At the same time, the insurer experienced gains in premium and …
CNA reported fourth quarter and full year 2016 results, with its new CEO indicating that while there is a strong foundation at the insurer, the company has work to do in improving underwriting discipline and results and that is his …
The U.S. property/casualty industry will likely post a small underwriting loss for 2016 after three previous years of underwriting profits, A.M. Best said in a new report. A.M. Best’s report appears in line with a another analysis that noted the …
For private U.S. property/casualty insurers, the first nine months of 2016 were markedly worse than the same period in 2015, due to higher catastrophe losses and less favorable reserve development. The period produced a $1.7 billion net underwriting loss versus …
Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit jumped 8.9 percent as investment income improved and the company recorded a gain tied to the settlement of a risk-sharing dispute. Net income rose to …
Berkshire Hathaway reported a 10.5 percent drop in operating profit for its insurance and reinsurance operations during the third quarter, with underwriting income falling 34 percent. While General Re reported an increase in pretax underwriting income of more than $100 …
Catastrophe losses climbed 78 percent for Allstate in its 2016 third quarter, a trend that led to a double-digit drop in net income and higher losses for Esurance, its online auto and home insurance provider. The property/casualty insurance giant reported …
American International Group Inc. posted profit that fell short of Wall Street estimates as costs swelled on contracts in which the insurer guarantees payments to accident victims. Third-quarter net income of $462 million, or 42 cents a share, compares with …
