Munich Re Faces $1.3 Billion in Claims From Los Angeles Wildfires
Germany's Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss ...
Markets
Casualty Reinsurance Capacity Plentiful, But Concerns Over Future Availability Loom
Increasing litigation costs and higher jury awards continue to financially pressure the casualty reinsurance segment, forcing reserve strengthening measures for some carriers and prompting narrower ...
S&P Puts State Farm General Ratings on CreditWatch
Potential downgrades of State Farm's California homeowners insurer came closer to reality when S&P Global Ratings put the "AA" financial strength and issuer credit ratings of State Farm General ...
Homeowners Insurance: Housing Shortage Collides With Wildfire Risk
Growth was clearly a theme running through fourth-quarter 2024 conference calls, although the message coming from companies was necessarily more nuanced where growth in ...
Polished Gem GEICO Fuels Berkshire Hathaway Operating Gains
The work that GEICO's CEO has done to "repolish" Berkshire Hathaway's "long-held gem" got a special shout-out in Berkshire Chair Warren Buffett's 2024 annual report to shareholders this weekend. ...
Viewpoint: The Recipe for Building a Successful MGA
The managing general agency model is attracting a number of ambitious underwriters keen to step away from established insurers to build nimble, specialized, and client-focused MGAs. For many, ...
Texas DOI Proposes Ban on Tying Auto and Home Policies
The Texas Department of Insurance (TDI) announced today that it is working to ban tying home and auto policies. The proposed insurance code modification would prohibit agents and insurers from tying ...
Notable Rating Actions This Week: Mercury General, Sentry’s The General
Among the ratings announcements from AM Best this week were those reacting to an uncertain California wildfire loss estimate and a Midwest personal lines acquisition.
Auto and Property Insurance Shopping Saw 20% Spikes in Q4 2024, Report Shows
Auto and property insurance shopping experienced 20 percent year-over-year increases in the fourth quarter of 2024, a new report shows.
