Performance
State Farm Reports Underwriting Profit for 2013
Even though State Farm's auto businesses suffered a loss in 2013, the property/casualty companies reported a $230 million underwriting gain, State Farm reported on Friday. The $230 million gain of ...
Buffett Sets Fresh Goal as Berkshire Misses Five-Year Target
Warren Buffett said his performance at Berkshire Hathaway Inc. should be measured over the course of stock market cycles after missing a five-year target for the first time. Berkshire's net worth ...
Berkshire Posts 11th Straight Year of Underwriting Profit; Buffett Expects Billions from Specialty Ops
Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the ...QBE 2013 Loss As Expected; U.S. Mid-Market Biz Under Microscope: CEO
There were no surprises when QBE published its year-end financial results on Tuesday, with a $254 million after-tax loss on the bottom line nearly matching a preannounced estimate delivered by the ...
Most Profitable Insurer Piggybacks on Bank Sales Channel
BB Seguridade Participacoes SA's strategy of piggybacking on its corporate parent's 5,400 bank branches to sell policies is making it the world's most profitable insurer. The company will post a 44 ...
Retiring CEOs Issue Optimistic Earnings Forecasts, Study Finds
Retiring chief executive officers issue earnings forecasts more frequently during their final year of employment, and these forecasts tend to convey good news—to be optimistically biased—than ...
AIG U.S. P/C Subs’ Ratings Stable In Spite of Reserve Deficiency: A.M. Best
Rating agency A.M. Best announced Thursday that it affirmed financial strength ratings for AIG's U.S. property/casualty subsidiaries at "A," noting that an estimated reserve deficiency has been ...
Does Your Company Need a COO?
Some P/C insurance companies have chief operating officers; some have more than one. Others have chief operations officers. All are C-suite positions. But does every carrier actually need a leader of ...