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Warren Buffett’s conglomerate reported ludicrous headline net earnings, but with a less healthy story in insurance with lower favorable development and notable deterioration of results at Geico.
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Analyst Philip Kett says he’s “more constructive” on the Corporate Solutions outlook.
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J Adam Abram said the carrier would closely monitor its book of run-off ride-share business.
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National General reported its Q4 results, including a healthy consolidated combined ratio of 91.4% benefitting from lower catastrophes.
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United Insurance Holdings posted a net operating loss of $0.36/sh, badly missing analyst estimates of positive earnings of $0.31/sh.
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Alleghany reported an operating loss of $5.87/sh on Wednesday, a deterioration from last year’s operating loss of $4.35/sh.
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The troubled commercial specialty unit reports strong renewals price growth but a $647mn full-year loss.
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Coming into 2019, with margins reaching cyclical highs, and pricing still elevated, the dynamic in auto changed on a dime.
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The Australian carrier reports 9.8 percent renewal rate growth in the London market.
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The Canadian carrier's insurance units are looking to take advantage of a favourable rate environment.
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The carrier said the market was in the early stages of rate change and it was hard to know how long improvements would last.
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AIG followed an encouraging Q4 print with 2020 guidance that disappointed investors, appearing to push out its expected earnings recovery further into 2021.