Industry News
‘Too Much Space,’ Says State Farm CEO on Shuttering Corporate HQ
State Farm will be moving 13,000 of its 62,000 employees who now work in its Corporate Headquarters and the Illinois Operations Center in Bloomington, Ill., to another location— Corporate ...
AM Best Analysis: P/C Industry Soared in 2025. Will It Fly as High in 2026?
Building off momentum from the previous year, the U.S. property/casualty (P/C) industry recorded a $61 billion underwriting gain in 2025—nearly triple the $22 billion recorded in 2024. With nearly ...
Wildfires, Storms, Floods Account for Record 92% of Global Insured Losses: Swiss Re
Wildfires, severe convective storms and floods — also known as secondary perils — accounted for a record 92% of total global natural catastrophe insured losses of $107 billion in 2025, according ...
Insurers Using Advanced Analytics and AI See Strong Returns: Report
A new survey finds that property and casualty (P&C) insurers in North America and Canada that invested more resources in advanced analytics and AI achieved greater profitability and premium ...
Chubb Outlines Structure of $20B Gulf Reinsurance Facility, Now Including Liability Cover
Chubb outlined the structure of the new $20 billion maritime reinsurance facility, created to provide marine war risk insurance for ships sailing through the Strait of Hormuz -- which has been ...
Everest Sells Another Retail Commercial Insurance Op: Canada Biz Going to Wawanesa
Everest Group, Ltd. ("Everest") announced that it has signed a definitive agreement to sell its Canadian Retail Insurance operations, Everest Insurance Company of Canada ("Everest Canada"), to The ...
Hippo, Progressive Embark on Strategic Distribution Relationship
InsurTech Hippo announced that its homeowners insurance products have been added to Progressive's HomeQuote Explorer, available online and through Progressive in-house agents in eight states. Hippo ...
Berkshire Hathaway to Invest $1.8 Billion in Tokio Marine
Berkshire Hathaway Inc. will invest 287.4 billion yen ($1.8 billion) in insurer Tokio Marine Holdings Inc., ramping up the U.S. conglomerate's exposure to the Japanese market. National Indemnity ...