April 13, 2012
Ohio-based State Auto Financial Corp. has estimated first quarter 2012 results will include between $19 million and $21 million in pre-tax catastrophe losses. The company announced that the estimate reflects anticipated recoveries under the State Auto Group’s property catastrophe excess …
December 29, 2011
Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those losses would be enough …
December 5, 2011
Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best Co. The estimated total net pretax accident-year catastrophe-related losses …
October 21, 2011
The Chubb Corp. reported that net income in the third quarter of 2011 was $298 million compared to $572 million in the third quarter of 2010. Net income per share declined to $1.04 from $1.80. Operating income was $252 million …
October 20, 2011
Allstate Corp. suffered nearly $1.1 billion in catastrophe losses in the third quarter, the country’s largest publicly traded home and auto insurer said Thursday. That is half of what Allstate lost in the second quarter, when parts of the United …
October 12, 2011
Greenwich, Conn.-based insurer W. R. Berkley Corp. is estimating Q3 catastrophe losses in the range of $50 million to $60 million, before tax. The loss estimate is net of reinsurance recoveries and is inclusive of reinstatement premiums. The company is …
October 7, 2011
MetLife Inc., the largest life insurer in the United States, said Thursday it would take up to $275 million in third-quarter charges, in part to increase reserves for policies where it may know the holder is dead but no claim …
September 12, 2011
Insurer Hartford Financial Services Group warned Monday that its third-quarter catastrophe losses would be substantially higher than a year earlier, mostly as a result of last month’s Hurricane Irene. The Hartford, in a slide presentation for a Barclays Capital conference, …
August 26, 2011
Hurricane Irene is likely to cause more insured losses in the Bahamas than 1999’s devastating Hurricane Floyd, catastrophe modeler AIR Worldwide said Thursday, even as the storm increasingly tracks toward a weekend landfall in the greater New York City area. …
July 21, 2011
Travelers Cos. Inc. reported a second-quarter loss, missing analysts’ estimates by a huge margin as the property insurer suffered more than $1 billion in catastrophe losses from record-breaking tornadoes in April and May. Travelers warned in early June that it …