News
Zurich Problem Was Lack of Accumulation Management, Chair Says
Zurich Insurance Group AG is fixing how it detects risks after miscommunication among units aggravated losses from a port explosion in China last year, Chairman and acting Chief Executive Officer Tom ...
Fiji Recovering from Worst Cyclone Ever
Fiji is surveying the damage from the strongest tropical cyclone to ever hit the South Pacific nation, with at least three people reported to have been killed and whole villages flattened as the ...
S&P Frees GEICO, National Indemnity, Gen Re from CreditWatch Negative Status
Berkshire Hathaway's insurance subsidiaries are no longer on CreditWatch Negative with Standard & Poor's. The ratings entity removed National Indemnity Co., GEICO and General Reinsurance Corp. ...
A.M. Best 2016 Prediction: Lower U.S. P/C Underwriting Profit With Market Cracks
U.S. property/casualty insurers, fresh off a third consecutive year of underwriting profit in 2015, will likely achieve this again in 2016. At the same time, the market will develop some cracks along ...
Allianz Boosts Profit but Catastrophe Loss Claims Soar
Allianz SE missed analyst estimates for fourth-quarter profit because of claims from natural catastrophes. Net income at Europe's biggest insurer increased to 1.42 billion euros ($1.6 billion) in the ...
Zurich Insurance Is Reportedly Planning to Sell Morocco, South Africa Units
Zurich Insurance Group AG has started a process to sell its units in South Africa and Morocco as it works toward turning around its money-losing insurance operations, according to people familiar ...
State Auto Blames Auto Lines for Disappointing 2015
State Auto Financial Corp. ended 2015 with a steep drop in net income and a combined ratio that landed well above 100. Executives blamed a bad year for the insurer's auto lines but added that they've ...
Nationwide Hopes NASCAR’s Dale Earnhardt Jr. Will Highlight Broad Product Roster
Dale Earnhardt Jr. is again resurfacing as a Nationwide spokesperson, with new television commercials set to debut during the Daytona 500 on Feb. 21. The professional stock car racing driver and son ...