With unfavorable development and product mix changes propelling fourth-quarter and full-year loss 2021 ratios into the 90s—up 20 points over comparable 2020 periods—Lemonade guided shareholders that results will get worse in 2022. “2022 is expected to be our year of …
Last week, Praedicat, a liability risk analytics company, announced that it launched a new Company Risk Score designed to simplify the underwriting of complex emerging risks for liability insurance. The risk score, ranging from 0 to 100 for every one …
Investors in insurance-linked securities are leaning toward structured catastrophe bonds rather than broader ILS instruments to steer away from unexpected losses from secondary perils. At the same time, catastrophe bond investors are accepting lower yields than they did two years …
As insurance professionals prepare for mask-free life and opportunities to exchange ideas in person, industry leaders took the virtual stage again at a midyear conference, recounting industry lessons learned during the 15 months since COVID distancing began. John Neal, chief …
McKinsey analysts believe insurers focused on large one-off deals undertaken to scale their companies and those that stick to organic growth are both headed down unfruitful paths if outsized shareholder return is their success metric. In a report published in …
The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better combined ratios and higher income than in 2019. A …
A task force of the National Association of Insurance Commissioners is asking the board of directors of the Casualty Actuarial Society to reverse a decision rescinding a “statement of principles” of the profession, Carrier Management recently reported. The CAS action …
With GEICO’s 2020 underwriting profit more the doubling above the level recorded in 2019, Berkshire Hathaway’s full-year property/casualty underwriting income was in the black, even though the conglomerate’s P/C reinsurance units saw underwriting losses in both years. Taken together, $3.4 …
During an upbeat earnings call focused on how RenaissanceRe is using $1 billion of capital it raised last year in 2021, the CEO highlighted one negative development for the industry overall — inadequate estimates of COVID-19 losses. “Even as COVID …
Hallmark Financial Services, a specialty property/casualty company, announced Thursday that it is exploring the separation of its specialty commercial business to unlock its value and improve access to capital. Currently the company is comprised of three business segments—specialty commercial, standard …