Zurich Insurance Group reported a better-than-expected 25% rise in operating profit in the first half on strong performance across the board and announced a bumper 1.8 billion Swiss francs ($1.91 billion) share buyback on Thursday, sending its shares higher. Europe’s …
Workers’ compensation insurers continue to stow away more money than necessary in reserves, even as reported loss ratios continue to climb, according to a report released by the National Council on Compensation Insurance. A.M. Best also released a report concluding …
Workers’ compensation underwriters have been consistently generating better underwriting profits than other property/casualty lines of business, and did so again in 2020 amid the pandemic. According to an AM Best report, underwriting results of workers’ compensation insurers remained strong in …
Because of job losses and shrinking payrolls during the pandemic recession, the workers’ compensation industry’s net written premium dropped 10% to $42 billion in 2020. However, private insurers posted a profitable calendar year combined ratio of 87, the industry’s fourth …
The U.S. inland marine insurance segment experienced a “significant downturn in profitability” in 2020, with its loss ratio deteriorating by nearly 16 percentage points amid the COVID-19 pandemic, according to an AM Best report. The Best’s Market Segment Report, “Significant …
The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss in 2020 …
The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better combined ratios and higher income than in 2019. A …
Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the previous year. These preliminary results are from a new …
MILAN – Generali is confident it can hit its targets this year after Italy’s biggest insurer overcame a negative impact from the coronavirus crisis in 2020 to deliver a record operating profit. Operating profit, which is closely watched by the …
Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the year. Still, the amount of ultimate losses remains unclear and will take several years to determine in business interruption, general …
