April 14, 2023
Two weeks before its officially set to announce earnings, The Hartford previewed first-quarter net income and underwriting results, revealing that net income will grow to $530 million, in spite of booking $185 million in catastrophe losses. The net income figure …
April 13, 2023
Progressive Corp. today reported first quarter net income of about $448 million β a 43% increase compared to the same time last year β though the insurer booked a nearly $152 million loss for the month of March. At the …
March 16, 2023
In reporting February financial results that continued a positive start to 2023, Progressive Corp. said it has about $75 million total investments tied to banks recently taken over by the Federal Deposit Insurance Corporation (FDIC). Progressive Corp. recorded February net …
March 8, 2023
Crawford & Co. (CRD. A), a claims management and adjusting firm for insurers, reported a fourth-quarter loss of $14.1 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Atlanta-based company said it …
March 6, 2023
United Insurance Holdings Corp. Corp. said it will move on to focus on specialty commercial lines business following news last month that its subsidiary United P&C Insurance Company (UPC) being was placed in receivership. During a short conference call to …
March 1, 2023
Ryan Specialty reported a 54.6% increase in fourth quarter net income to the same period the prior year, while revenue outpaced Q4 2021 by 14.9%. The Chicago, Illinois-based specialty insurance firm reached fourth quarter net income of $45.8 million, compared …
February 28, 2023
Progressive Corp. posted full-year 2022 net income of $721.5 million, down about 78% from net income of $3.35 billion the prior year, due to losses in its investment portfolio. However, Chief Executive Officer Tricia Griffith in a letter to shareholders …
February 27, 2023
Berkshire Hathaway recorded its first full-year underwriting loss since 2017βbut a small oneβas strong profits from reinsurance operations were almost enough to counterbalance the deteriorating results from the conglomerate’s personal lines insurer GEICO. In fact, while GEICO’s pretax underwriting loss …
February 24, 2023
The story of U.S. personal lines challenges impacting the results of multiline insurers was repeated for Liberty Mutual, which reported underwriting losses and waning policy growth in the segment in 2022. President and Chief Executive Officer Tim Sweeney reported overall …
February 23, 2023
Calling embedded insurance the “next secular trend in distribution,” Root Inc. CEO Alex Timm in a letter to shareholders said the company has an advantage to scale access in the channel and become profitable. Root reported a net loss of …