CFO / Financial
Progressive ’24 Net Income More Than Doubles; Combined Ratio Below Target
Progressive reported net income of $8.5 billion for 2024, more than double the $3.9 billion figure reported for 2023, with underwriting profit coming in well below the company's annual target. ...
Everest Group Boosts Casualty Loss Reserves $1.7B
Everest Group, Ltd. pre-announced full-year 2024 earnings yesterday, disclosing about a 45 percent drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves. The ...
Where Homeowners Rates Are Rising—and Who Is Raising Them Most
According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by ...
Central Insurance Reorganizes Into Mutual Holding Company Structure
Central Insurance, a property/casualty mutual insurance company, and its affiliates have reorganized under Ohio law into a mutual holding company structure, the company announced. The reorganization, ...
Moderating Premium Rates, Falling Yields: European Insurers Resilient
European insurers are approaching the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to ...
Eyeing Specialty Focus, AXIS Transfers $2.3B of Re Reserves to Enstar
AXIS Capital Holdings Limited and Enstar Group Limited announced that they have entered into a loss portfolio transfer reinsurance agreement under which AXIS will retrocede $2.3 billion of ...
Personal Lines Results Drive U.S. P/C Insurance 9-Month Underwriting Profit
Growth in net earned premiums outpaced a slight increase in losses and loss adjustment expenses to result in the U.S. property/casualty industry posting a nine-month 2024 underwriting profit of $4.1 ...
WTW Unveils Machine-Led Solution to Enhance Insurance Reserving
Insurance broker WTW announced the launch of ResQ Machine-led Reserving, which WTW describes as a game-changing technology for insurers and reinsurers to enhance accuracy and efficiency in ...