SPECIAL REPORT
Jan 23, 2025 11:10 AM (EST)
Through the third quarter of 2024, the direct incurred loss ratios for the homeowners/farmowners and private passenger auto lines of business improved significantly year over year, with the homeowners’ line experiencing a 13.8-percentage point improvement, according to a new AM Best report.
EARNINGS
Feb 12, 2025 12:15 PM (EST)
The California wildfires in the first quarter may recalibrate catastrophic loss events for the insurance industry, underlining the rapidly rising costs of secondary perils, said American International Group Inc.'s chief executive officer.
Feb 06, 2025 01:50 PM (EST)
Allstate Corp.’s estimated $1.1 billion in net pretax losses from January’s destructive Los Angeles wildfires includes a likely assessment on carriers by the state’s insurer of last resort, executives said.
Feb 06, 2025 01:20 PM (EST)
Chariot Reinsurance, the Bermuda-based reinsurer announced late last year by MetLife Inc. and General Atlantic, could expand in the future to take on third-party risks, MetLife's chief executive officer said.
CALIFORNIA
Feb 11, 2025 08:50 PM (EST)
State Insurance Commissioner Ricardo Lara has granted the California FAIR Plan’s request for a $1 billion assessment on the state’s property insurers in order to continue paying claims from the Los Angeles wildfires.
Feb 11, 2025 08:09 AM (EST)
The U.S. economy continues to outperform expectations and has entered 2025 on firm footing, according to a new AM Best report.
LOSSES
Feb 11, 2025 11:47 AM (EST)
Travelers Cos. Inc. preliminarily estimates $1.7 billion in pretax catastrophe losses from the Los Angeles wildfires in January.
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