USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based reciprocal exchange said revenue was up 17% year-over-year to …
In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way it’s a 40% jump over 2023. Executives from …
Aviva posted a 16% rise in general insurance gross written premiums to 2.7 billion pounds ($3.44 billion) in the first quarter, helped by strong performance in Britain. Life and general insurer Aviva, which has its main operations in Britain, Canada …
Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024. Nevertheless, Swiss Re decided its …
The U.S. property/casualty industry’s net combined ratio improved in 2023 to 101.7 from 102.5 the prior year, according to S&P Global Market Intelligence. The combined ratio for the industry’s personal business lines came in at 106.7%—about 3.2 points better than …
Zurich Insurance Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums. Gross written premiums in the business rose 9% from a year earlier, as Asia and …
Liberty Mutual Holding Company on Thursday reported first quarter 2024 net income of $1.5 billion compared to loss of $74 million during the same period last year. The combined ratio for the first three months of 2024 improved to 95.8 …
When Progressive’s chief executive officer weighed the words that should go into the management discussion section of the company’s first-quarter 10-Q report, she considered two possibilities to describe anticipated growth for the balance of 2024. “Was ‘maximize’ growth the right …
Berkshire Hathaway continued to deliver eye-popping results for its insurance and reinsurance operations during the first quarter of 2024, with underwriting profits for personal auto insurer GEICO and reinsurance operations topping any prior first quarter in the last decade. Across …
Insurer Allstate posted an upbeat first-quarter profit on Wednesday, helped by higher premiums and stronger investment returns. Insurers usually see stable product demand irrespective of economic conditions, mainly due to the widespread adoption of employer-sponsored and government-mandated policies. Allstate’s adjusted …
