Markets
For State Farm, 2015 Underwriting Losses Balanced Out by Investment Gains
State Farm Mutual Automobile Insurance Co., the largest U.S. property/casualty insurer, said 2015 profit rose 48 percent on investment gains tied to pharmaceutical holdings. Net income increased to ...
First ‘Contextual’ Telematics Insurance Model Launching in U.S.
Last week, LexisNexis Risk Solutions announced a new telematics model, describing it as the first U.S. insurance model to apply geospatial context to driving events to better understand how drivers ...
Massive Calif. Methane Leak Ranks as Largest U.S. Event of Its Kind
The months-long natural gas leak that forced thousands of Los Angeles residents from their homes ranks as the largest known accidental methane release in U.S. history, equal to the annual greenhouse ...
‘Highly Likely’ Climate Change Won’t Hurt Berkshire Insurance Ops: Buffett
Although it is "highly likely" that climate change poses "a major problem for the planet," it's less likely climate change impacts will dent the profits of Berkshire Hathaway's insurance operations, ...
Berkshire Reports 13th Straight Underwriting Profit; BH Specialty Premium Tops $1B
Insurance operations contributed $4.9 billion to total operating income of $17.4 billion for Berkshire Hathaway in 2015, with underwriting profit levels dropping and investment income rising compared ...
Breckenridge Announces New Advisory Firm for M&A Insurance Placement
Breckenridge Insurance Group announced the formation of Vista Insurance Advisors, a new company to provide the Transactional and Mergers and Acquisitions market with expert insurance guidance and ...
AIG: Post-Merger Problems Driving M&A Coverage Claims
Nearly 14 percent of the M&A policies that American International Group wrote globally between 2011 and 2014 resulted in a claim, the insurer reported last week. The period studied covered more ...
XL Catlin Doubles Available Limits for Standalone Terrorism Coverage
XL Catlin said it has doubled available limits for its standalone terrorism coverage and added other bells and whistles in what it described as a market response to new attacks in cities and schools ...