Allstate Corp. on Wednesday said it expects to end 2022 in the red with a net loss of between $285 million and $335 million for the fourth quarter, and a combined ratio of 109.1. Estimated adjusted net loss for the …
Travelers Companies today released an estimate of $459 million in pre-tax catastrophe losses during the fourth quarter, and expects to report net income of $819 million for the last three months of 2022. Travelers said catastrophe losses were primarily caused …
Reinsurers are increasingly reconsidering their business in natural disaster-prone locations including California and Florida as losses mount, according to Moody’s Investors Service. Climate change has increased wildfire risk in California while hurricane losses in Florida have already seen a number …
Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was making storms more intense and frequent. …
The Progressive Corp. said Dec. 21 that its loss and allocated loss adjustment expenses (ALAE) in the property business are estimated to be $1 billion from, prior to reinsurance, from Hurricane Ian. The insurer said this reflects favorable development of …
Just a few days into earnings season for the third quarter, a number of carriers have published loss estimates for insurance claims from Hurricane Ian, or prewarned investors about loss figures that will dent their bottom lines. A recap of …
The Hanover Insurance Group on Oct. 20 released an estimate of third-quarter overall catastrophe and Hurricane Ian-related losses. Q3 catastrophe losses are expected to be about $90 million, pre tax. Estimated losses from Ian will be about $28 million, mostly …
Insurer Progressive incurred nearly $2.0 billion in gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian, sending over $1 billion of the total to reinsurers, the company reported Thursday. In an earnings announcement disclosing …
Allstate announced August 18 that Glenn Shapiro, president, Property-Liability, has decided to retire at the end of September. He joined Allstate as chief claims officer in 2016 and has held his current position since 2018. Current chief financial officer Mario …
Tony and Jhan Dunn never thought they would leave California, where they grew up, built a life together and planned to retire. But after a wildfire swept through their Northern California town of Paradise three years ago, burning their home …
