Liberty Mutual Holding Co. Inc. reported net income of $15 million for the second quarter, a 94 percent drop from the $254 million recorded for last year’s second quarter. Energy investments were largely to blame for the drop-off— pre-tax losses …
American International Group Inc., the largest commercial insurer in the United States and Canada, reported an operating profit that beat analysts’ estimate, driven by lower costs and strong underwriting during the quarter. Shares of the company, whose board also authorized …
CNA Financial Corp. reported second quarter 2016 net income of $209 million and net operating income of $201 million. “Overall I am pleased with the result this quarter. Although our International segment had a disappointing quarter, all of our North …
This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by S&P Global Market Intelligence. The firm’s 2016 U.S. …
Bermuda-based Everest Re Group Ltd. reported second quarter 2016 net income of $155.7 million, or $3.67 per diluted common share, compared to net income of $209.1 million, or $4.68 per diluted common share, for the same period in 2015. After-tax …
The Travelers Companies reported an 18 percent drop in net profit for the second quarter largely due to a 50 percent rise in losses from catastrophes. Catastrophe losses of $333 million, up from $221 million for the same period last …
U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015—a 26.6 percent decline—and their annualized quarterly yield on investments drop to 2.9 percent—the lowest this century—from 3.1 percent …
Driven by the highest level of first-quarter catastrophe losses since 2011, the underwriting results of the U.S. property/casualty (P/C) industry in the first quarter of 2016 deteriorated from the prior year. The industry posted an underwriting gain of $2.1 billion …
Coface SA, a French export-credit insurer, warned Monday that higher-than-expected claims by companies trading with emerging markets may cut its 2016 annual profit. The Paris-based company also cited longer collection times in emerging regions, it said in a statement after …
At first glance, Bermudian re/insurance companies appeared to start the year with a bang, reporting a 21 percent increase in consolidated gross premiums written (GPW), according to a new report published by Standard & Poor’s. However, that picture is slightly …
