The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums and 55.3% …
Digital auto insurer Root saw its loss ratio spike in the 2021 second quarter as higher costs for repairs, used vehicles and miles driven rose above pre-pandemic levels. But the Ohio-based insurer continues to report growth in its premium volume, …
Buoyed by the hard market and rebounding economy, Independent insurance agents and brokers grew overall by 7.1% in the second quarter, surpassing the 6.9% organic growth reported eight years ago in the second quarter of 2013. Commercial lines posted an …
Zurich Insurance Group’s on Thursday joined other big European insurers in reporting a strong rebound in earnings as the impact from COVID-19 on their businesses eased. Buoyant markets along with higher policy sales helped the insurers’ profits to roar back …
Aviva Plc plans to return at least 4 billion pounds ($5.6 billion) to investors using proceeds from the recent sale of non-core businesses. The UK-based insurer and asset manager will start with an immediate 750 million pound share buyback, and …
German reinsurance group Munich Re said on Tuesday it would meet its 2021 profit goal as it raised its forecast for gross premiums and predicted higher pandemic-related losses than previously anticipated. Munich Re made the announcements on the back of …
Berkshire Hathaway’s insurance division produced a mixed performance during the 2021 second quarter. Rate increases generally carried the day, though the conglomerate’s GEICO unit dragged down earnings. Berkshire Hathaway’s insurance division produced $376 million in net underwriting earnings during Q2, …
American International Group generated a modest profit in the second quarter, citing gains from higher net investment income, far fewer catastrophe losses and strong rate hikes in its property/casualty business. The insurance giant produced $91 million in net income. That …
FRANKFURT – German insurer Allianz on Friday posted a better-than-expected 46% jump in second-quarter net profit and provided a rosier outlook for the full year as it emerges from pressure on business caused by the coronavirus pandemic. Net profit attributable …
Generali on Tuesday said it was on track to meet full-year targets after Italy’s top insurer reported a good performance across all business sectors to slightly beat first-half expectations. Operating profit rose 10.4% to 3 billion euros ($3.6 billion) versus …
