Allstate Q4 Catastrophe Loss Tempered by Higher Premiums, Reduced Auto Claims

Article 0 Comments The Allstate Corp. lost $312 million in its 2018 fourth quarter, which was attributable to higher catastrophe losses, lower investment income and a pension settlement charge. Catastrophe losses hit $963 million, versus just under $600 million in Q4 2017. However, the insurer said that higher premiums earned […]

Chubb Took $500M Hit from Catastrophes in Q4 But Saw Better Pricing, Investments

Article 0 Comments In 2018 fourth quarter, global insurer Chubb saw a surge in catastrophe losses, along with growth in premium revenue, better global property/casualty pricing and record net investment income. The insurer booked $355 million in net income compared to more than $1.5 billion in net income over Q4 […]

Everest Re Estimates Q4 2018 Catastrophe Losses of $695 Million

Article 0 Comments Everest Re Group, Ltd. expects to incur in the fourth quarter 2018 catastrophe losses of $695 million, net of reinsurance, reinstatement premiums and taxes. The catastrophe losses were related to the fourth quarter 2018 events of Hurricane Michael which affected Florida and other states in the southeastern […]

Report Warns of Robots Taking Restaurant, Trucking, Clerical Jobs

Article 0 Comments Robots aren’t replacing everyone, but a quarter of U.S. jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report. The report says roughly 36 million Americans hold jobs with “high exposure” to automation – meaning at […]

Arch Capital Estimates Q4 2018 Catastrophe Losses Could Total $130M

Article 0 Comments Arch Capital Group Ltd. reported an estimated range of fourth quarter pre-tax losses of $110 million to $130 million from global natural catastrophes, including Hurricane Michael and California wildfires. These estimates are net of reinsurance recoveries and reinstatement premiums, said Bermuda-based Arch. This estimated range updates the […]

Insurance Linked Securities’ Issuance Reaches Record $1.6B in Q3: Willis Re

Article 0 Comments The issuance of non-life insurance linked securities during the third quarter reached a record $1.6 billion, according to a report published by Willis Re. The total exceeds the former Q3 record of $1.4 billion achieved in 2013, and is well ahead of the five-year average of $800 […]

Kemper’s Strong Third Quarter Includes Infinity Results

Article 0 Comments Kemper Corp. reported net income of $92.2 million for the third quarter of 2018, compared to $47.7 million for the third quarter of 2017. As adjusted for the acquisition in the quarter of nonstandard auto insurer Infinity, net income was $131.7 million for the third quarter compared […]

Better Underwriting, Lower Taxes Behind The Hartford’s Strong Q3 Results

Article 0 Comments The Hartford reported third quarter 2018 net profit of $427 million compared with $145 million in third quarter 2017. The $282 million increase was due to higher commercial lines, personal lines, group benefits and mutual funds income, including the benefit of a lower U.S. corporate tax rate, […]

W.R. Berkley Q3 Profit Holds Steady

Article 0 Comments W.R. Berkley Corp.’s third quarter featured flat net income but also higher premiums and soaring investment income. The Connecticut-based insurer and reinsurer said it generated $162 million in net income during the 2018 third quarter, on par with the 2017 third quarter. Its insurance combined ratio was […]

AIG Estimates Q3 Catastrophe Losses Will Be $1.5 Billion

Article 0 Comments American International Group said it expects to report third quarter 2018 catastrophe losses of approximately $1.5 to $1.7 billion. These losses are largely from multiple events in Japan, including Typhoons Jebi and Trami, as well as Hurricane Florence and revisions to loss estimates on the California mudslides. […]