U.S. homeowners multiperil insurers reversed a $1.3 billion underwriting loss in 2024 to post an underwriting profit of $16.5 billion in 2025 – the line’s first underwriting gain since 2019, said AM Best. In fact, seven of eight years from …
Total net income for U.S. property/casualty mutual insurers doubled compared to 2024 to about $42.6 billion in 2025 as underwriting income surged to about $14.8 billion from a loss of $7.2 billion in 2024. According to a recent A.M. Best …
Jon Hancock, CEO of General Insurance at American International Group (AIG), will retire at the end of the year. The announcement is the newest change for AIG’s C-suite, which experienced a shake-up leading to Hancock’s latest role with the company. …
Federal legislation to extend the Terrorism Risk Insurance Act will head to the full Senate after unanimously getting a nod from the Senate Banking Committee. The committee on Sept. 17 voted 24-0 to advance S. 4395, the Terrorism Risk Insurance …
The U.S. House Financial Service Committee on Sept. 16 advanced a bill to limit the authority of the Consumer Financial Protection Bureau, which the insurance industry said has crept over the years into insurance regulation. Within the Consumer Financial Protection …
There is some good news, according to the Independent Insurance Agents & Brokers of America, as the use of artificial intelligence proliferates across the industry. People still prefer people. A survey commissioned by the Big “I” found 87% of consumers …
Insurance executive and counsels joined in with those from more than 200 companies that submitted a letter to a federal court rules committee urging the development of a third-party litigation funding (TPLF) disclosure requirement. According to a group called the …
Insurance brokerage The Baldwin Group, Inc. said today it has entered a definitive agreement resulting in becoming a privately held company. An entity formed by Sequence Holdings and DFO Management is to pay an all-cash sum of $7.7 billion to …
Prior to September 2001, terrorism was covered by a standard commercial insurance policy. Either as a direct mention in the policy wording or by its omission, it was covered. But the attacks on 9/11 changed everything. Today, an insurance industry …
The terrorist attacks of September 11, 2001 shocked the nation and left nearly 3,000 dead. In today’s dollars, 9/11 caused $60 billion in insured losses. In the aftermath, the industry responded with state-filed requests to exclude terrorism coverage, which had …