In its Q1 2024 results, AIG has reported net income attributable to its common shareholders of $1.2 billion, marking a massive improvement compared to the $23 million recorded in the prior year quarter.
Tag: commercial lines insurance
HDI Global Expands Mid-Market Commercial Lines Presence
HDI Global said it is expanding its operation to include clients in the mid-market segment that have turnover of between €20 million ($21.3 million) and €500 million.
Pekin Insurance Announces Job Cuts, To Reduce Coverage in Storm-Prone Areas
Pekin Insurance, which offers property and casualty coverage in Illinois and six other states, has eliminated some full-time positions and will refocus duties of many remaining employees as part of what is being called an accelerated strategic plan.
Commercial Lines Insurance Composite Rate Increases 5.1% in 4Q 2022
The composite rate for US commercial insurance rates was up 5.1% in the fourth quarter of 2022.
Going Strong: Independent Agents Place 62% of All P&C U.S. Premiums
According to a new report from the Independent Insurance Agents and Brokers of America (the Big I), independent insurance agents place approximately 62% of all P&C premiums written in the United States. Big ‘I’s Market Share Report is released every two years and can help users understand the current insurance marketplace and opportunities and evolving… Continue reading Going Strong: Independent Agents Place 62% of All P&C U.S. Premiums
Progressive Expands Commercial Lines Products with Acquisition of Protective Insurance
The Progressive Corporation and Protective Insurance Corporation today announced that they have entered into a definitive agreement under which Progressive has agreed to acquire all of the outstanding Class A and Class B common shares of Protective for $23.30 per share in cash, for a total transaction value of approximately $338 million. The acquisition is… Continue reading Progressive Expands Commercial Lines Products with Acquisition of Protective Insurance
Hartford Financial’s Q4 Earnings Beat, Improve Y/Y
The Hartford Financial Services Group, Inc. reported fourth-quarter 2020 adjusted operating earnings of $1.76 per share, which beat the Zacks Consensus Estimate by 34.4% on the back of higher net investment income. Moreover, the bottom line improved 23.1% year over year. Total revenues of $5.3 billion dipped 0.6% year over year due to lower contribution… Continue reading Hartford Financial’s Q4 Earnings Beat, Improve Y/Y
USG Announces Hire of Tejada in Philadelphia, PA
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of Edwin Tejada, Producer/Broker: Commercial Lines, in the Philadelphia, PA branch. Tejada joins the USG team with 8 years of experience in the insurance industry, most recently with Bass Underwriters in Jersey City, NJ. As Producer/Broker: Commercial Lines at USG,… Continue reading USG Announces Hire of Tejada in Philadelphia, PA
AM Best Maintains U.S. Commercial Lines Insurance Outlook at Negative
AM Best has maintained a market segment outlook of negative on the U.S. commercial lines industry for 2021, citing the uncertainty regarding the impact of COVID-19 and its economic fallout, along with the re-emergence of social inflation as courts reopen, as well as other factors that were adversely impacting the segment prior to the pandemic.… Continue reading AM Best Maintains U.S. Commercial Lines Insurance Outlook at Negative
USG Announces Hire of Goodman in Philadelphia, PA
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of Keith Goodman as Producer/Broker: Commercial Lines in the Philadelphia, PA branch office. Goodman has six years of insurance industry experience, most recently with Burns & Wilcox in Horsham, PA. As Producer/Broker: Commercial Lines at USG, Keith will continue building… Continue reading USG Announces Hire of Goodman in Philadelphia, PA