Markets
AM Best Downgrades SCOR Ratings
AM Best announced Thursday that it has downgraded the financial strength rating to "A" (excellent) from "A+" (superior) and the long-term issuer credit ratings to "a+" (Excellent) from "aa-" ...
Lloyd’s 2022 Underwriting Results ‘Strong’ Despite Bottom-Line Red Ink
Lloyd's reported an interim full-year 2022 loss before tax of $947.6 million (£800 million ) as a result of investment losses of approximately $3.6 billion (£3 billion). This compares to a profit ...
American Family Insurance Group Underwriting Loss Triples to $1.5B in 2022
Earlier this week, American Family Insurance report a 2022 net underwriting loss of $1.5 billion in its property/casualty lines, up from an underwriting loss of $460 million in 2021. The company ...
Swiss Re Closes $700M Alternative Capital Deal, Enabling Growth in Favorable Market
Swiss Re has closed a $700 million multi-year stop-loss transaction with funding led by J.P. Morgan. The financing builds upon an innovative hybrid transaction concluded with J.P. Morgan in April ...
Telematics Master Class: How Progressive Offers Competitive Prices
During an investor conference last week, Progressive's leader revealed some subtle wording changes to the company's purpose and vision. Unchanged, however, are four pillars of Progressive's strategy, ...
Allstate Not Turning Up Ad Spend Yet: CFO
During an investor conference on Monday, the chief financial officer of Allstate confirmed that the company isn't ready to ramp up its marketing spend to grow its personal auto book just yet, even ...
The Math of Homeowners Deductibles
People who work in the insurance industry probably buy homeowners policies with high deductibles, an industry investor-turned-InsurTech-founder told Carrier Management recently. They understand the ...
Birth of a Unicorn: How Branch’s Founders Turned Noes Into Yeses
Like most startups, the founders of unicorn Branch faced some early setbacks. In a word, the process was "intense," according to Steve Lekas, co-founder and CEO of the InsurTech, which bundles home ...