CFO / Financial
State Farm P/C Businesses Report $13B Underwriting Loss
Late last year, State Farm's chief executive broke the news that the auto giant would record the largest underwriting loss in its 100-year history for 2022. On Monday, the news became official with a ...
Fitch Ups AIG P/C Ratings to A+; Multiyear Transformation Prompts Action
A 2022 combined ratio of 92 for the property/casualty operations of American International Group is evidence of the success of the carrier's multiyear turnaround that factored into an upgrade from ...
Bar Charts Bias Judgments More Than Line Graphs: Study
A new study suggests that the format in which graphs are presented may be biasing people into being too optimistic or pessimistic about the trends the graphs display. Academics from City, University ...
Firms Supporting Both Democrats and Republicans Have Less Volatile Results
United States companies that balance their political connections across party lines in a polarized partisan environment are in a position to see less volatility in their stock prices and profits, ...
Zurich Insurance Net Income Fell 12%, Internal Profit Rose 12% in 2022
Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12 percent decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital ...
Who Is the Real Artist? Questions, Lawsuits Spring From AI Images
Countless artists have taken inspiration from "The Starry Night'' since Vincent Van Gogh painted the swirling scene in 1889. Now artificial intelligence systems are doing the same, training ...
Laid Off Tech Workers Are About to Get Help—From Allstate
Allstate Corp. plans to tap the pool of recently fired tech workers to help the insurer overhaul its business. The company—best known for auto and home policies—is investing in technology ...
Evolve or Die: More Than a Third of CEOs See Transformation as Path to Survival
More than a third of insurance industry chief executives believe that their companies won't be economically viable in a decade if their businesses continue running on the same course, a new survey ...