Markets
For State Auto, a Q2 Combination of Operating Losses and Rate Hikes
Healthy rate increases and new business helped State Auto Financial Corp. eke out a small profit in the 2020 second quarter. Overall results, however, were mixed with underwriting operations losing ...
Citing Social Justice, Root Pledges to End Credit Scoring for Auto Insurance Pricing
Root Insurance pledged to eliminate the use of credit scoring from its car insurance pricing model by 2025, a move the InsurTech said will help remove bias and discrimination from the process. ...
Munich Re’s July Renewals Rise, Q2 Net Profit Drops 42 Percent
German reinsurance group Munich Re posted a 42% decline in second-quarter net profit, with around 700 million euros ($832 million) in losses related to the coronavirus pandemic in the period. The ...
1,000 Talc Lawsuits Against J&J Could Be Revived
A New Jersey appeals court's decision to revive two lawsuits accusing Johnson & Johnson's iconic Baby Powder of causing cancer may lead to the reinstatement of about 1,000 suits targeting the ...
COVID-19 Event Cancellations, Storms Mar Liberty Mutual’s Second Quarter
Liberty Mutual Holding Co. reported a net loss of $320 million for the second quarter versus net income of $397 million for the same quarter last year. The loss reflected the impact of COVID-19, ...
AXA CEO Expresses Confidence in XL Biz After Coronavirus-Related Losses
The CEO of AXA on Thursday expressed confidence in the French insurer's company-focused XL Group after the business reported a loss in the first half following a spike in COVID-19-related claims. AXA ...
American Family Launches CONNECT, Formerly Ameriprise Auto & Home
American Family Insurance has renamed the Ameriprise Auto & Home business it paid $1 billion for a little over a year ago. The new name is "CONNECT: Powered by American Family Insurance." State ...
Multiple CNA Commercial Lines Took a Q2 COVID-19 Hit
CNA Financial Corp. saw its 2020 second quarter net income sliced almost by half compared to the previous year due to "considerable catastrophe losses" from COVID-19, civil unrest and weather-related ...