First quarter 2025 net income at Chubb fell nearly 38% to about $1.3 billion as losses from the California wildfires overcame underlying results. Chief Executive Officer Evan G. Greenberg in a statement said the insurer “had a good first quarter …
The Travelers Cos. said first quarter 2024 fell 65% on an underwriting loss of $305 million. Travelers posted first quarter net income of about $395 million compared to about $1.1 billion during the first quarter of 2024. The underwriting loss …
Insurers are betting on a suite of new AI-driven techniques to better predict surging losses from climate-driven weather catastrophes ranging from unprecedented wildfires to hurricanes and floods. Less than three months into the year, natural disasters are already causing major …
The 2024 Atlantic hurricane season ends Nov. 30 after 18 named storms including the earliest Category 5 storm on record, and possibly one of the costliest hurricanes to the insurance industry. Of the 18 named storms, 11 were hurricanes and …
Allstate today said it estimated pretax catastrophe losses of $286 million for the month of October. Losses during October included $102 million, pretax, from Hurricane Milton as well as $144 million in unfavorable reserve reestimates from Hurricane Helene primarily from …
Liberty Mutual Insurance today said it expects up to $900 million in losses from hurricanes Helene and Milton. Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information “in support of a potential capital markets …
Moody’s RMS has pegged private insured losses from Hurricane Milton to between $22 billion and $36 billion, with a best guess of $26 billion. The Newark, California-based catastrophe modeler also narrowed its range for insured losses from hurricanes Milton and …
Allstate Corp. doesn’t announce third quarter earnings until Halloween but today it released some scary September pretax catastrophe losses. In keeping with its initiative to announce monthly catastrophe losses that total at least $150 million, the Northbrook, Illinois insurer said …
Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind. Verisk’s Extreme Event Solutions group said the range includes privately insured losses to onshore property …
Moody’s RMS said private insurers can expect to dole out between $35 billion and $55 billion for hurricanes Milton and Helene. A final industry-loss estimate for Hurricane Milton, a Category 3 that struck Siesta Key, Florida on October 9, will …
