Commercial Lines
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way ...
Buffett’s Berkshire Reveals $6.7B Stake in Insurer Chubb
Warren Buffett's Berkshire Hathaway Inc. unveiled a $6.7 billion stake in insurer Chubb Ltd., ending months of suspense over its mystery position in a financial firm, previously kept concealed in ...
Farmers to Resume Offering Key Lines of Business Insurance in California
Farmers Insurance says it will resume accepting new business commercial multi-peril applications for auto service & repair, habitational, manufacturing, real estate and wholesale distribution ...
COVID-19 Can Be Occupational Disease, Colorado Court Says in Worker Death Case
For the first time, a Colorado appellate court has concluded that COVID-19 can be an occupational disease that is compensable under the state's Workers Compensation Act. The Colorado Court of Appeals ...
Reserve Strengthening for Casualty Lines Not Over: Moody’s
If personal auto insurance loss reserves are developing adversely, can commercial general liability be far behind? That's the gist of one of the questions that analysts from Moody's Investors Service ...
Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse
Chubb, which had insured Baltimore's Francis Scott Key Bridge, is getting ready to pay $350 million to the state of Maryland, in what could be the first major payout tied to ...
AIG Profit Exceeds Expectations on Lower Catastrophe Losses
American International Group Inc. (AIG) reported profit above analysts' estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results. Adjusted ...
E&S Property In Focus: Competition Up, Price Momentum Waning
During separate earnings conference calls this week, executives of two property/casualty specialty writers—W.R. Berkley Corp. and RLI Corp.—signaled a changing E&S property insurance market. ...