Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global insured losses, according to …
Travelers Companies on Wednesday reported a 14% fall in quarterly profit, as severe wind and hail storms in parts of the United States drove up catastrophe losses for the insurer. Core income of the New York-based company, often seen as …
The deadly firestorm in Hawaii and Hurricane Idalia`s watery storm surge helped push the United States to a record for the number of weather disasters that cost $1 billion or more. And there`s still four months to go on what`s …
Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models …
Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President and CEO Tom Wilson said the …
Travelers, considered a bellwether for the insurance industry due to its size, said catastrophe losses doubled in its most recent quarter and the company swung to a loss as severe wind and hailstorms in a number of regions led to …
Travelers Companies Inc. on Wednesday reported a fall in quarterly profit, but announced an additional $5 billion share buyback plan that sent the shares of the property and casualty insurer up 5%. The company has $1.61 billion left over from …
Property and casualty insurer Travelers Companies Inc. reported a 48% jump in quarterly profit that beat analysts’ estimates on Tuesday, as lower catastrophe-related claims cushioned a hit from investment losses. The company’s core income rose to $1.04 billion, or $4.22 …
Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry’s understanding of these risks, according to a report published by RMS. “Secondary …
U.S. insurer American International Group Inc AIG.N topped fourth-quarter profit expectations on Wednesday as it benefited from strong underwriting and lower catastrophe losses at its general insurance business. Catastrophe losses came in at just $189 million in the quarter to …