Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the...
Lemonade Books Q1 Net Income Loss But Sees Progress
InsurTech Lemonade followed 2023—” the year when the plan came together “—with a first quarter 2024 net loss of $47.3 million....
InsurTech Lemonade followed 2023—” the year when the plan came together “—with a first quarter 2024 net loss of $47.3 million....
Article / 1 month ago
Triple-I: Insurance Economic Drivers Outperform Overall U.S. GDP
The economic drivers of the U.S. property/casualty (P/C) insurance industry are growing faster than the nation’s Gross Domestic Product (GDP) and are expected...
The economic drivers of the U.S. property/casualty (P/C) insurance industry are growing faster than the nation’s Gross Domestic Product (GDP) and are expected...
Article / 2 months ago
U.S. P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
AM Best published its annual tally of U.S. property/casualty insurance industry’s financial results yesterday, reporting that $38 billion of underwriting losses for 2023 was a 10-year high for the sector.
AM Best published its annual tally of U.S. property/casualty insurance industry’s financial results yesterday, reporting that $38 billion of underwriting losses for 2023 was a 10-year high for the sector.
Article / 3 months ago
State Farm Underwriting Loss Climbs to $14B
When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant’s history....
When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant’s history....
Article / 3 months ago
GEICO’s ‘Eye-Popping’ 2023 Insurance Profits, Falling Employee Counts
Even though Berkshire Hathaway’s latest annual report featured Warren Buffett’s forecast that the days of “ eye-popping performance ” for the giant conglomerate have...
Even though Berkshire Hathaway’s latest annual report featured Warren Buffett’s forecast that the days of “ eye-popping performance ” for the giant conglomerate have...
Article / 3 months ago
Buffett Says Berkshire ‘Built to Last’
Warren Buffett on Saturday moved to reassure investors that his conglomerate Berkshire Hathaway would serve them well over the long term, even as he mourned the recent passing of his longtime...
Warren Buffett on Saturday moved to reassure investors that his conglomerate Berkshire Hathaway would serve them well over the long term, even as he mourned the recent passing of his longtime...
Article / 3 months ago
Study: Autonomous Truck Market Surging
The demand for autonomous trucks is estimated to increase from $3.3 billion in 2023 to reach $6.9 billion by 2028, according to a new study by BCC Research.
The demand for autonomous trucks is estimated to increase from $3.3 billion in 2023 to reach $6.9 billion by 2028, according to a new study by BCC Research.
Article / 3 months ago
Report: 2023 Combined Ratio Forecast at 103.9%, Commercial Lines Performed Best
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at...
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at...
Article / 4 months ago
Progressive Q4 Net Income Up 141% as Combined Ratio Exceeds Goal for 2023
Progressive Corp. said fourth-quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago...
Progressive Corp. said fourth-quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago...
Article / 4 months ago
Report: U.S. Crop Insurers Reap Billions in Profit
Roughly one-third of U.S. government spending to insure the nation’s crops since 2011 has gone to insurance companies that derive more than $1 billion in profit from the program each year,...
Roughly one-third of U.S. government spending to insure the nation’s crops since 2011 has gone to insurance companies that derive more than $1 billion in profit from the program each year,...
Article / 6 months ago
