Industry News
Strong Gains as U.S. P/C Insurers Emerge From the Pandemic
U.S. property/casualty insurers saw their net income jump to $37.5 billion in the 2021 first half, up from $24.3 billion the year before, with gains coming as the country continued to recover from ...
Executives On The Move at BHSI, MS Amlin and Coalition
Berkshire Hathaway Specialty Insurance appointed a new Senior Vice President, Global Property Underwriting Officer. MS Amlin Underwriting Limited chose a new president of newly formed sister company ...
Chubb Wrote the Most U.S Cyber Business in 2020; Sector Grew Nearly 30%: NAIC
The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance ...
InsurTech Lemonade Will Acquire Metromile in Acceleration of Auto Insurance Growth Plans
Digital insurer Lemonade plans to acquire pay-per-mile auto insurance startup Metromile in an all-stock transaction as it aggressively continues expansion plans. With the M&A agreement, the New ...
U.S. Commercial Auto Stymied by Challenges at the Cusp of Profitability: AM Best
U.S. commercial auto insurers may be generating the best underwriting results for the sector in years, but the sector remains unprofitable as a whole as it confronts a number of emerging trends, ...
Allianz Will Help Back $577M Public-Private Climate Fund
GLASGOW – The European Investment Bank and Allianz Global Investors said on Monday they plan to raise 500 million euros ($577.55 million) for a fund aimed at bolstering climate mitigation and ...
Berkshire Hathaway’s Insurance Division Generated a $784 Million Q3 Net Underwriting Loss
Berkshire Hathaway's insurance division booked a combined $784 million net underwriting loss during the 2020 third quarter as it faced, in part, fallout from Hurricane Ida and more vehicle crashes. ...
Credit Scoring: Insurers Assert New Data Validates Its Use to Predict Risky Driver Behaviors
The insurance industry says it now has hard data proving that if you have a bad credit score, you're more likely to slam on the brakes or step hard on the gas. The same is true, they say, if you're ...