Markets
Progressive’s Q2 Worsens in Spite of Double-Digit Auto Premium Growth
Progressive's combined ratio came in just above breakeven for the second quarter of 2023, in spite of personal lines earned premium growth of more than 22 percent. The company second-quarter combined ...
Conning: Cyber Insurance Market at a Critical Juncture
The next three years will be critical to the long-term growth prospects of the cyber insurance market, according to a scenario-led analysis of the market's dynamics report released by Conning, "Cyber ...Kin Enters Southwestern U.S. Market
Kin, a direct-to-consumer residential property insurer, announced its expansion into Arizona. The Grand Canyon State marks Kin's first move into the U.S. Southwest, building upon the company's growth ...
P/C Market Won’t See Underwriting Profit Until ’24; Outsized Growth Expected
After four years of unparalleled underwriting profitability ending in 2021, the P/C market is headed for a second straight year of underwriting losses, according to the newly released S&P Global ...
Will S&P Change ‘Negative’ Reinsurance Outlook to ‘Stable’ in ’23?
While no one directly asked the question of this article's headline at the S&P Global Ratings June annual insurance conference, the prospect that an outlook change is near came into view during ...
Property Insurers’ Ratings Under Pressure as Risk Rises
The credit ratings of global property insurers are coming under pressure as rising reinsurance costs force them to cut back on cover and retain more risks themselves, DBRS Morningstar analysts said ...
AXA Weighs Offloading $2B Reinsurance Arm to Cut Exposure to Disasters: Sources
One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the ...
Farmers Insurance Further Reducing Florida Business
One month after it announced it would stop writing new homeowner policies in Florida, Farmers Insurance now says it plans to cut back further on its presence in the hurricane-prone state. The Florida ...