Allstate says severe weather events in Texas and the Midwest account for the majority of its $350 million in catastrophe losses in May 2020. Northbrook, Illinois-based Allstate Corp. has estimated catastrophe losses for the month of May of $350 million, …
Announcing total estimated catastrophe losses for June, Allstate Corporation attributed 60 percent of those losses to four severe wind and hail weather events that primarily impacted Texas. Allstate estimated catastrophe losses for the month of June 2019 of $309 million, …
According to preliminary sigma estimates from Swiss Re, total economic losses from natural and man-made catastrophes in 2018 declined to USD $155 billion from USD $350 billion in 2017. Global insured losses are estimated to be around USD $79 billion, …
After global insured natural catastrophe losses hit record highs in 2017, will reinsurers be able to withstand another year of active natural catastrophes? S&P Global Ratings indicates that while reinsurers are entering this year’s hurricane season with robust earnings and …
Cincinnati Financial Corp. has announced that the Cincinnati Insurance Companies’ property/casualty group expects its third-quarter results to include pretax catastrophe losses of approximately $102 million to $114 million. The company said the impact on the third-quarter 2017 combined ratio would …
Teams of insurance adjusters were mobilized Friday in Texas cities closest to Hurricane Harvey’s expected path of destruction. Hurricane Harvey made landfall late Friday evening as a category 4 hurricane. According to AIR Worldwide, “the eye of the storm crossed …
Columbus, Ohio-based super regional insurer, State Auto Financial Corp. (STFC), has reported a second quarter 2016 net loss of $24.6 million, or $0.59 per diluted share, versus net income of $2.7 million, or $0.06 per diluted share, for the second …
This year, extensive flooding has already affected parts of Texas and Louisiana. With more rain producing floods in the forecast for the southern part of the U.S. this spring, the likelihood of disaster fraud increases. Disaster-related fraud affects auto, homeowners …
Ohio-based State Auto Financial Corp. announced first quarter 2016 net income of $3.0 million, or $0.07 per diluted share, versus net income of $24.7 million, or $0.60 per diluted share, for the first quarter of 2015. Net income from operations …
Despite the signs of some pricing stabilization in property catastrophe during the June/July 2015 renewals, hopeful forecasts for a “softening in the softening” in reinsurance pricing have proved elusive, according to Willis Re’s 1st View Report. “The January renewals have …
