Industry News
U.S. Insurers Face Challenges as Spike in Ratings Actions Expected to Continue
Negative ratings actions and financial challenges are forcing carriers to explore reinsurance options offering needed capital, according to a report released last month by Gallagher Re's Strategic ...
State Farm Underwriting Loss Climbs to $14B
When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant's history. A year later, and another record. The underwriting loss figure climbed to ...
Triple-I: Lawsuit Abuse Adding to Auto Insurance Rate Hikes
Increasing litigation is adding to rate hikes in auto insurance coverage, according to a new report by the Insurance Information Institute (Triple-I). The excessive litigation has compounded the ...
Destination Progressive… or One of These Other Carriers
Commissions are more certain than insurance losses. Those aren't exactly the words that a Progressive executive used when he described the work the insurer has been doing to help customers meet all ...
How Network Carriers Benefit From the Progressive Advantage Agency
Nationwide, American Modern, National General, Homesite, Hiscox and Markel are just a half dozen of the names on a roster of 20 carriers providing personal lines or commercial lines insurance (or ...
Clyde & Co: M&A Activity to ‘Start to Increase Through 2024’
The number of worldwide mergers and acquisitions in the insurance sector in 2023 dropped to 346 in 2023, down from 449 in the previous year, according to a new report from Clyde & Co. But the ...
Beazley Creates Cyber Risk Management Company
Beazley, the London-based specialty insurer, announced the creation of an integrated cyber risk management company, Beazley Security, formed from the merger of its in-house Cyber Services team and ...
AXA’s 2023 Earnings Miss Forecasts on Higher Costs, Lifts Dividend 16%
France's AXA, Europe's second-biggest insurer, pledged on Thursday to deliver higher earnings and returns to shareholders by 2026 by growing its client base, automating processes and reducing labor ...