Property/casualty News
S&P Reveals Top 50 Largest P/C Insurers
As the third-fastest growing company on a list of the world's top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P ...
MetLife Looking to Sell P/C Auto and Home Biz: KBW
MetLife is pursuing a sale of its property/casualty auto and home insurance business, according to a report by analysts following the company Keefe, Bruyette & Woods (KBW) analysts, Ryan Krueger ...
Allianz Beats Profit Estimates, Thanks to PIMCO Momentum
Even after outflows hit Pimco in the last quarter, Allianz SE's giant bond fund unit is on a roll. In an industry plagued by ever-shrinking margins, Pacific Investment Management Co. and its smaller ...
CNA’s Underwriting Income Grows; Trump Tax Cuts Also Help Q1 Results
CNA Financial Corp. benefited from the U.S. tax reform law in the 2018 first quarter, but the Chicago-based carrier also saw a steady gain in underwriting income. CNA booked $291 million in net ...
Axa, Europe’s 2nd-Biggest Insurer, Sees Property Sales Boost Profit
Axa, Europe's second-biggest insurer, reported a weaker than expected 4 percent rise in its first-half net profit, hit by lower investment returns, higher claims and despite a boost from real estate ...
Buffett’s Gen Re to Close Several Global Locations in Reorganization Move
Gen Re, one of the giant reinsurance businesses at Warren Buffett's Berkshire Hathaway Inc., said it's exiting property-casualty operations at six smaller locations amid a global reorganization. The ...
For State Farm, 2015 Underwriting Losses Balanced Out by Investment Gains
State Farm Mutual Automobile Insurance Co., the largest U.S. property/casualty insurer, said 2015 profit rose 48 percent on investment gains tied to pharmaceutical holdings. Net income increased to ...
National General Grabs Two U.S. P/C Insurers in Multi-State Expansion
National General Holdings Corp. acquired two U.S. regional property/casualty insurers, allowing it to expand into multiple states. The first acquisition involves Century-National Insurance Company, a ...