Markets
Future Workers Compensation Profitability Faces Obstacles
Workers compensation, the largest product segment in the U.S. commercial lines insurance sector, has experienced a recent profit renaissance, moving to a significant underwriting profit in ...
Allstate Creates Standalone Telematics Unit
Allstate Corp. Chief Executive Officer Tom Wilson created a stand-alone unit for a telematics business that he expects to grow rapidly by collecting data on drivers and selling analytics products to ...
Energy Investments Drove Liberty Mutual’s Q2 Net Income Down 94%
Losses from energy investments caused a drop of more than 90 percent in Liberty Mutual's 2016 second quarter net income, though net written premium grew and the combined ratio improved slightly. Net ...
CNA Plans to Eliminate Central Zone Network; Job Cuts Unclear
CNA plans to eliminate its Central zone branch network as a standalone zone and realign it into the property/casualty insurer's other remaining U.S. market territories. The Chicago-based insurer ...
Loeb’s Third Point Re Soars on Investment Returns; Combined Ratio Climbs
Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its biggest profit since 2013 as his portfolio rebounded. Second-quarter net income ...
Allianz’s Q2 Profit Plunges by Nearly Half, Missing Estimates
Allianz SE said second-quarter profit almost halved, missing estimates, as Europe's biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea ...
State Auto Lost $24.6M in Q2; Catastrophe and Auto Losses to Blame
Higher catastrophe and auto losses helped drive State Auto Financial Corp.'s 2016 second quarter into the red. The Columbus, Ohio-based super regional insurer reported a second quarter 2016 net loss ...
Designers on Apple’s Side in Samsung Patent Fight
Apple Inc deserved the hundreds of millions of dollars in damages Samsung Electronics Co Ltd paid for infringing patented designs of the iPhone, because the product's distinctive look drives people ...