Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty (P&C) segment partially offset higher investment income. Profits at insurers came under pressure from a rise in catastrophe-related claims due to severe …
The Hartford said second quarter net income was $542 million, an increase of 23% compared with the same period a year ago, driven by written premium growth of 12% in commercial lines. Net income from commercial lines was $458 million, …
Second-quarter net income at broker WTW was down 16%, compared to the same period a year ago, to $96 million. Revenue at WTW was up 6% to $2.16 billion, with organic growth up 7%. WTW Chief Executive Office Carl Hess …
Chubb second-quarter net income went up 50.7% to nearly $1.8 billion and its property/casualty combined ratio came in at 85.4. “We had another simply outstanding quarter – in fact, a record, which contributed to a record six months,” said Evan …
The fact is, catastrophe losses are a part of an insurers’ financial results and not a line item to be dismissed, said W. Robert Berkley Jr, president and chief executive of W.R. Berkley Corp during a recent conference call on …
The Hanover Insurance Group Inc. announced a preliminary estimate for second quarter catastrophe losses of approximately $262 million, before taxes, or 18.5 points of net earned premium. Second quarter catastrophe losses stemmed from 19 convective storms across multiple states, with …
Marsh McLennan reported second-quarter profit above expectations on Thursday, bolstered by the higher interest the company earned from client funds. The company reported a profit of $2.20 per share, excluding one-time costs, for the three months ended June 30. Analysts …
Travelers Companies Inc. on Thursday reported a 98% fall in quarterly profit, as severe wind and hailstorms in parts of the United States pushed up its catastrophe losses. Core income of the New York-based company, often seen as a bellwether …
Second quarter net income at Progressive Corp. was $345.4 million, reversing a loss of nearly $543 million during the same quarter in 2022, as net income in June was about $41 million compared to a loss of nearly $437 million …
Even though Berkshire Hathaway’s GEICO achieved a 93 first-quarter combined ratio, an enviable result measured against industry peers, the leader of Berkshire’s insurance operations said the figure is not a true indication of where the business is today. Answering a …
