CFO / Financial
Double Whammy of Bad Weather, Lower Premiums Hammer U.S. Insurance Profits
The U.S. insurance industry is suffering from lower property-casualty premiums, bad weather claims and interest rates that are still too low to move the needle, according to earnings reports by some ...
Natural Catastrophes Dent Allianz’s Net Income; Full-Year Profit Target Remains
Allianz SE is sticking with its full-year profit target as improving returns offset a jump in losses from natural catastrophes. The insurer reiterated an operating profit target of 10.3 billion euros ...
Cyclone Debbie, Other Weather Events Hammer Swiss Re’s Q1 Net Income
Swiss Re reported net income of $656 million during the first quarter of 2017, a 45 percent drop from $1.2 billion reported in the same period last year. Swiss Re's Q1 result was hammered by expected ...
Tech Making Insurance Obsolete, Exec Says; Risk Transfer No Longer a Large Nos. Game
"Will technology make insurance obsolete?" That was the stark question posed by William Hartnett, a former Microsoft and ACORD executive, in his opening address to the 2017 Global Insurance ...
Broker Hub International Acquires Firm With Focus on Korean American Community
Hub International Ltd. said it has snatched up the assets of City Insurance Services and its related affiliates. The Chicago-based global insurance brokerage did not disclose financial terms, though ...
Investment Income Helped Boost CNA’s Q1 Results
CNA Financial Corp. saw big gains in its 2017 first quarter net income, mostly coming from a boost in net investment income and lower underwriting expenses. Net income for Q1 came in at $260 million ...
Insurance Startup Root Hires Ex-State Auto Exec Powell as Its CFO
Insurance startup Root is tapping a former State Auto executive Cindy Powell as its chief financial officer. Powell had been at State Auto Insurance Companies for 26 years, and served as its first ...
AXIS Reports 2017 Q1 Net Income Dented by Multiple Factors
AXIS Capital Holdings reported a drop in 2017 first quarter net income and a climb in its combined ratio, a trend reflecting both one-time costs plus more catastrophe and weather-related losses. The ...