Content from Chad Hemenway
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements ...
Cyber Market Primed to Grow and Eclipse Property by 2040: Gallagher Re
Following a pause to stabilize the vessel, the cyber market is poised for a wave of growth that could make it larger than the property-catastrophe market by 2040, said Gallagher Re. In fact, if the ...
AIG to Move High Net Worth Homeowners to E&S
Peter Zaffino, CEO of American International Group (AIG), said the company's ongoing analysis of the increased frequency and severity of natural catastrophes has led to a decision to move the ...
The Hartford Q4 Net Income Rises 36% on Commercial Lines Growth
Net income at The Hartford for the fourth quarter of 2021 ended at $729 million, a 36 percent increase from income of $537 million the same period a year earlier. For the year, net income was about ...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber ...
Chubb Net Income Drops in Q4, More Than Doubles for Year
Chubb reported fourth-quarter 2021 net income of $2.1 billion, a decrease of 11.5 percent compared to the same period the prior year. Nevertheless, the insurer had what CEO Evan G. Greenberg called ...