Commercial Lines
The Hartford Q4 Net Income Rises 36% on Commercial Lines Growth
Net income at The Hartford for the fourth quarter of 2021 ended at $729 million, a 36 percent increase from income of $537 million the same period a year earlier. For the year, net income was about ...
Markel Numbers ‘Thick’ on Underwriting, Investments, Ventures
Markel Corporation reported a "record-smashing" $628 million in underwriting profit for 2021, a figure that translated into a combined ratio of just over 90 for the year. Co-Chief Executive Officer ...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber ...
Chubb Net Income Drops in Q4, More Than Doubles for Year
Chubb reported fourth-quarter 2021 net income of $2.1 billion, a decrease of 11.5 percent compared to the same period the prior year. Nevertheless, the insurer had what CEO Evan G. Greenberg called ...
Climate Change Litigation: Why Better Disclosure Is Vital as Cases Rise
Climate change is one of the greatest challenges we currently face. As the situation escalates, nations and corporations are increasingly being held accountable for their actions (or lack thereof) to ...
Global Commercial Insurance Rates Keep Moderating, With Exception of Cyber: Marsh
Global commercial insurance prices increased 13 percent in the fourth quarter of 2021, a decline from the 15 percent increases seen in both the second and third quarters, according to Marsh's latest ...
Risk Alerts: E-Bike Batteries, Underground Coal Fires, Tesla Hack
In early January, an e-bike's battery burst into flames while charging in a Bronx restaurant, starting a four-alarm fire that drew more than 150 first responders and left one firefighter seriously ...
The Bottom Line: The Early Read on 2021 P/C Earnings
For publicly traded commercial insurers and reinsurers that reported 2021 earnings in January 2022, net income soared nearly 40 percent, with double-digit premium growth and higher levels of ...