Content from Chad Hemenway
AM Best Improves Outlook on U.S. Personal Auto Segment to ‘Stable’
Insurance rating agency AM Best said it has shifted its outlook of the U.S. personal auto insurance segment to stable from negative thanks to improving loss ratios of the top 20 carriers this year. ...
Allstate Insurers Sue Hyundai, Kia to Pay for Claims From Defective Cars
A group of subsidiaries of Allstate have filed a subrogation suit against Hyundai and Kia to get back costs paid to insureds for damages when their cars suddenly erupted in flames. According to the ...
Safeco to Take Personal Lines Renewal Business of Main Street America
Liberty Mutual's Safeco Insurance has agreed to take the personal lines business of Main Street America, marking the second time in two months that Safeco has stepped in to assume a personal lines ...
Hippo Sells Majority Stake in First Connect Insurance to Centana Growth Partners
InsurTech Hippo said it has sold a majority stake in First Connect Insurance Services, a digital platform for independent agents. The buyer is private equity fund Centana Growth Partners, who with ...
Liberty Mutual Quadruples Q3 Net Income Despite Catastrophe Losses
Liberty Mutual Holding Company said consolidated third quarter net income more than quadrupled to $897 million compared to $215 million during the same period a year ago. Catastrophe losses remained ...
AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market
American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead ...
NFIP to Begin Taking Monthly Flood Insurance Payments
The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal ...
Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips
Third-quarter underwriting income with Berkshire Hathaway's insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases ...