You might be going out of your mind staying at home during the pandemic. But that’s proving to be a benefit for insurers. A number of property-and-casualty insurers have noted that the frequency of many types of claims, like auto accidents or workplace injuries, is sharply declining amid lockdowns across the country. This is emerging… Continue reading Insurers Benefitting from Stay-at-Home Orders
Tag: P&C insurance
Wright Specialty Introduces Comprehensive P&C Program for Public Entities
Wright Specialty Insurance has introduced a new specialty insurance program with a wide range of property and casualty coverages and risk management services specifically designed for small to medium-sized municipalities (less than 75,000 residents) and other government entities. “We created our first dollar, low deductible Municipality Insurance Program in conjunction with Munich Re Specialty Insurance,… Continue reading Wright Specialty Introduces Comprehensive P&C Program for Public Entities
Zurich Insurance Q1 P&C Premiums Up; Sees $750M COVID-19 Claims In FY20
Zurich Insurance Group AG on Thursday reported that its first-quarter gross written premiums in Property & Casualty or P&C increased 5 percent to $9.68 billion from last year’s $9.18 billion, with growth tempered by adverse currency developments in Latin America. On a like-for-like basis, P&C gross written premiums grew 7 percent driven by growth from… Continue reading Zurich Insurance Q1 P&C Premiums Up; Sees $750M COVID-19 Claims In FY20
Generali Lifts Dividend, Backs Guidance
Assicurazioni Generali SpA raised its dividend and backed its targets, despite uncertainty related to the coronavirus epidemic, after improving performances across the company’s business segments supported growing net profit last year. Net profit for the year rose almost 16% to 2.67 billion euros ($3.00 billion), the Italian insurer said Friday. Excluding some one-offs, adjusted net… Continue reading Generali Lifts Dividend, Backs Guidance
U.S. P/C Industry Sees Improvement in Net Underwriting Income in 2019
The U.S. property/casualty (P/C) industry improved its net underwriting income in 2019 by $4.9 billion compared with 2018 as a 4.7% growth in net premiums earned offset increases in incurred losses and loss adjustment expenses, underwriting expenses and policyholder dividends. These preliminary results are detailed in a new Best’s Special Report, titled, “First Look: 12-Month… Continue reading U.S. P/C Industry Sees Improvement in Net Underwriting Income in 2019
Risk Strategies Acquires Atlas Insurance Management
Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced the acquisition of Atlas Insurance Management, a worldwide leader in the formation and management of captive insurance companies, as part of its purchase of Atlas Group Limited and its affiliated entities. Terms of the deal were not made public.… Continue reading Risk Strategies Acquires Atlas Insurance Management
New MGA to Offer No-Gap P&C Coverage to Brokers and Agents Servicing Nonprofit Organizations
Convelo Insurance Group, a newly formed Managing General Agency based in Tinton Falls, New Jersey, will specialize in providing producers with quicker, easier access to comprehensive P&C coverage specifically underwritten for nonprofit and social service organizations. Convelo was established by Josh Lamberg, founder and CEO of Lamb Insurance Services, America’s largest insurance broker that’s exclusively… Continue reading New MGA to Offer No-Gap P&C Coverage to Brokers and Agents Servicing Nonprofit Organizations
AIG Appoints Jon Hancock Chief Executive Officer, International General Insurance
American International Group, Inc. today announced that Jon Hancock has been appointed Chief Executive Officer, International General Insurance. In this role, Mr. Hancock will lead the International operations of AIG’s General Insurance business. He will report to Peter Zaffino, President & Global Chief Operating Officer, AIG, and Chief Executive Officer, General Insurance, and serve on… Continue reading AIG Appoints Jon Hancock Chief Executive Officer, International General Insurance
Alliant Honors its Class of 2020 Power Brokers®
Alliant continues to showcase its broad industry reach and regional strength, with 13 of its team members receiving the prestigious designation of Power Broker® by Risk & Insurance. The 2020 honorees hail from an array of locations and categories, emblematic of the company’s continued growth and expansion. “Alliant’s class of 2020 Power Brokers is highly… Continue reading Alliant Honors its Class of 2020 Power Brokers®
Berkshire Hathaway’s Reinsurance Division Falls to Loss in 2019
Berkshire Hathaway’s insurance earnings dipped in 2019 as reinsurance related businesses suffered and dragged that segment of the Warren Buffett owned conglomerate to a loss for the year. The Berkshire Hathaway Reinsurance Group fell to an underwriting loss of -$1.472 billion for 2019, worse than 2018’s -$1.109 billion. Impacting the insurance and reinsurance related businesses… Continue reading Berkshire Hathaway’s Reinsurance Division Falls to Loss in 2019