Personal Lines
Berkshire Hathaway Reports First Underwriting Loss Since 2017, Drop in GEICO Staffing
Berkshire Hathaway recorded its first full-year underwriting loss since 2017—but a small one—as strong profits from reinsurance operations were almost enough to counterbalance the deteriorating ...
Liberty Mutual Tackling U.S. Personal Lines Challenges
The story of U.S. personal lines challenges impacting the results of multiline insurers was repeated for Liberty Mutual, which reported underwriting losses and waning policy growth in the segment in ...
Root Books Another Loss; Stays Positive on Embedded Insurance
Calling embedded insurance the "next secular trend in distribution," Root Inc. CEO Alex Timm in a letter to shareholders said the company has an advantage to scale access in the channel and become ...
With Rate Increases Still Pending, Lemonade Is Slowing Growth in ’23
Executives of InsurTech Lemonade say they're slowing down growth in 2023, as the company waits for regulators to approve rate hikes needed to keep up with inflation. "So long as these mismatched ...
Why Not Go Direct on Homeowners, Allstate CEO Asks
When Allstate's chief executive officer looks at potential growth opportunities for personal lines insurers, he sees an untapped part of the homeowners insurance market—customers that will buy home ...
Hyundai, Kia to Offer Software Upgrade to 8.3 Million U.S. Vehicles to Prevent Thefts
Hyundai Motor and Kia Corp. will offer a software upgrade to 8.3 million U.S. vehicles in response to increasing thefts targeting vehicles without push-button ignitions and immobilizing anti-theft ...
AIG Moving Private Client Group High Net Worth Biz to Independent MGA
Following through on intentions to move its high net worth business to nonadmitted paper—and some to other capital providers—American International Group entered into a binding memorandum of ...
Allstate’s Plan to Return to Profit in Auto
Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company's No. 1 priority: improve margins. Allstate ended 2022 with an ...