Industry News
More Than Half of All Employees in Finance, Insurance Work Remotely: Triple-I
Data as of September 24, 2024, shows that 63.7 percent of workers in Finance and Industry spend some of their time in a remote work environment. The analysis, conducted by the Triple-I, shows that ...
AIG General Insurance Underwriting Profit Falls 28% in Q3
American International Group saw third-quarter underwriting income in its general insurance segment fall 28 percent to $437 million due to higher catastrophe losses and lower favorable development on ...
Executives on the Move at Kettle, Aon, Lloyd’s
Kettle names a new chief executive officer. Aon appoints a chief underwriting officer for AUM. Lloyd's announces a change in chief people officer role.
NFIP to Begin Taking Monthly Flood Insurance Payments
The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal ...
Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips
Third-quarter underwriting income with Berkshire Hathaway's insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases ...
Vertafore Acquires Surefyre to Expand Offerings for MGA Growth
Insurance software-as-a-service provider Vertafore said it has acquired Surefyre, a submission and underwriting platform for managing general agencies and wholesalers. The deal's financial terms were ...
‘Pivotal’ Q3 Sees InsurTech Root Achieves Net Income Profit for the First Time
For the first time in the company's history, Root Inc. recorded a quarterly net income profit. The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net ...
Allstate Says It’s Ready to Grow Homeowners Line With All 3 Distribution Channels
Allstate said it sees opportunity where others may not — in homeowners insurance. And the insurer plans to use all three distribution channels to do it. Due to rising trends in the frequency and ...
Global Reinsurers’ ROE Jumps to 22% in 2023, but Market Softening Unlikely: AM Best
AM Best's population of global reinsurance companies posted a return on equity (ROE) of 22 percent in 2023 – a five-year high that was driven mainly by favorable investment income and strong ...