Severe weather-related losses, stubborn inflation and upward reinsurance pricing drove the U.S. property/casualty (P/C) sector’s net underwriting loss to a 10-year high of $38 billion in 2023, according to a new AM Best report.
Tag: inflation and insurance
U.S. Commercial Insurance Revenue Growth, Profits to Moderate in 2023
The U.S. commercial lines insurance segments are being challenged by slower revenue growth, inflation-based claim uncertainty and less favorable loss reserve experience, Fitch Ratings says.
The Impact of Inflation on Insurance
Property and casualty (P&C) insurance carriers are concerned as US inflation soars. Increasing claims costs and expenses are wreaking havoc on almost every line of coverage. With no immediate relief in sight, insurers will need to revise their pricing strategies and strengthen their operational resilience to weather any eventuality, according to an article by McKinsey… Continue reading The Impact of Inflation on Insurance
Market Volatility Hurts Buffett’s Berkshire Hathaway’s 2Q Earnings
Earnings at Berkshire Hathaway Inc. fell in the second quarter as market volatility weighed on the company’s massive stock portfolio. The Omaha, Nebraska-based company, which owns companies ranging from insurer Geico to railroad BNSF Railway to sportswear maker Brooks Running, reported a $43.8 billion loss, or $29,754 per class A share equivalent. In the previous… Continue reading Market Volatility Hurts Buffett’s Berkshire Hathaway’s 2Q Earnings
All Eyes on Impact of Inflation, Rate Hikes, Market Downturn as Berkshire Hathaway Set to Report 2Q Results
Berkshire Hathaway Inc. is about to provide investors with an update on how it’s dealing with spiraling inflation, rate hikes, and a market downturn that has weighed on some of its largest holdings. According to analysts, Warren Buffett’s Berkshire Hathaway is set to report second-quarter results on Saturday, and the sharp sell-off that has plagued… Continue reading All Eyes on Impact of Inflation, Rate Hikes, Market Downturn as Berkshire Hathaway Set to Report 2Q Results
Beazley: Inflation Worries Businesses and Their Insurers
The war in Ukraine has rapidly disrupted global trade in key commodities like grain, oil and gas, exacerbating an existing background of energy shortages and rising costs. It is therefore not surprising that our latest Risk and Resilience survey shows inflation, in particular, is one of the key factors worrying business leaders, nor that they… Continue reading Beazley: Inflation Worries Businesses and Their Insurers