Industry News
AIG Exceeds Profit Estimates on Strong Underwriting Gains
American International Group Inc. beat market estimates for quarterly profit on Monday as a jump in underwriting income cushioned the blow from lower investment returns. Net premiums written in the ...
Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio
Munich Re's profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of ...
Gallagher Calls Alliant’s Filing in Poaching Suit a ‘Masterclass in Deflection’
In the latest in the back-and-forth court filings between Arthur J. Gallagher and Alliant Insurance Services, Gallagher said its competitor is putting on a "masterclass in deflection" to prevent the ...
Lemonade Records Another Q2 Loss, Changes Pace for Profitability
InsurTech Lemonade said it booked a second-quarter net loss of $67.9 million compared with a net loss of $55.6 million during the same quarter last year, but in a letter to shareholders the company ...
FM Global Puts Aside $300M for Policyholders’ ‘Resilience Credit’
Policyholders of FM Global, which include one of every three Fortune 500 companies and similar size organizations worldwide, will collectively receive about $300 million in a first-of-its-kind ...
Majority of Young Homeowners Expect Their Homes to Be Damaged by Extreme Weather in Next 30 Years
Young homeowners are more concerned about the damage climate change-related extreme weather could do to their homes, according to a new survey from Policygenius. The survey found that 72 percent of ...
Independent Agents Place Majority of U.S. P/C Insurance: Big I
The independent agency channel places 62 percent of all property/casualty insurance written in the U.S., according to the Big "I" 2022 Market Share Report. The annual Market Share Report compiles and ...
Tech Bytes: New Partnerships at Hub International, Pathpoint, Charlee
Hub International Limited, a global insurance brokerage and financial services firm, announced its partnership with RESAAS Services Inc., a technology platform for the real estate industry. The ...