The insurance sector in Europe has seemingly adjusted more rapidly to GDPR requirements than other industries.
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Cyber insurance offers plenty of opportunities for growth, especially among small and medium-size companies.
The profitability of the US P/C industry deteriorated in 2017. Both pretax operating and net income declined, although they did remain positive.
Takaful companies have emerged in most of the MENA markets, but, with the exception of Saudi Arabia, most are struggling to establish competitive positions.
China non-life outlook is negative but improving market conditions are in sight.
India non-life outlook is negative but improving market conditions spark optimism.
Insurers expect rate hikes, but would prefer gradual increases, which will let them adjust credited rates on liabilities and assets to optimize returns.
The Russian insurance market continues to face challenges, and given the competitive market, profitable growth opportunities are likely to continue to be limited.
Aon's Stankard: High-Tech Autos Poised to Drive Off 40% of Industry Premiums
Progressive Corp.’s April Cat Losses Rise to $51 Million: Progressive Corp. saw $51 million in catastrophe losses in April, with wind and hailstorms in Texas accounting for about 40% of them.
That total is up $6 million from last year, the company said in a statement. Year-to-date... Date: May 16, 2018 Source: BestWire News
Progressive CEO: Net Premium Growth of 23% Sets Company Up Well for Hail Season: Progressive Corp. grew its first-quarter net premiums written by 23%, which, along with a combined ratio under 90, set the company up well for the coming hail season, the company’s chief executive officer said in an earnings ... Date: May 04, 2018 Source: BestWire News
Progressive Net Climbs 69% as Premiums Increase, Combined Ratio Improves: Progressive Corp.’s attributable first-quarter net income jumped 69% as premiums written rose and the combined ratio improved.
The quarterly combined ratio fell 3.3 points to 88.4 as the net increased to $718 million. In Ma... Date: April 17, 2018 Source: BestWire News
Progressive Overtakes Allstate as the No. 3 Personal Auto Writer: Progressive Insurance Group bypassed Allstate Insurance Group to become the third-largest all private passenger automobile insurance writer in the United States last year, according to BestLink.
Technology and marketing lik... Date: April 06, 2018 Source: BestWire News
Progressive Appoints General Manager to Lead Subsidiary American Strategic Insurance: Progressive Corp. has appointed Dave Pratt as general manager of subsidiary American Strategic Insurance. He succeeds ASI Founder, President and Chief Executive John Auer, who will remain ASI board chairman after his April 1 ... Date: March 28, 2018 Source: BestWire News
Progressive’s February Commercial Net Premiums Rise $70 Million on Uber Expansion: Progressive Corp.’s geographic expansion with ride-sharing company Uber Technologies Inc. increased commercial lines net premiums written nearly $70 million in February, which accounted for 21% of the segment’s monthly busine... Date: March 14, 2018 Source: BestWire News
Progressive CEO: Thunderstorms Had Greater Impact on Coastal Property Business Than Named Storms: Severe thunderstorms had a far greater impact on Progressive Corp.’s coastal-concentrated property business than named storms last year, President and Chief Executive Officer Tricia Griffith said in an annual letter to shareh... Date: February 28, 2018 Source: BestWire News
Progressive Plans to Hire 7,500 This Year in Various Locations, Departments: Progressive said it plans to hire more than 7,500 people this year across a number of departments and locations. The company said it will fill positions in information technology, analysis, claims, customer support and corpor... Date: February 12, 2018 Source: BestWire News
Net Income Attributable to Progressive Rises 50% in Fourth Quarter: Net income attributable to Progressive increased 50% in the fourth quarter to $576.3 million as premiums continued double-digit growth.
Net premiums written increased 22% from the prior-year quarter to $6.75 billion. The co... Date: January 24, 2018 Source: BestWire News
Progressive Subsidiaries Will Pay More Than $2 Million to Settle Government False Claims Allegations: Two Progressive Corp. subsidiaries agreed to pay more than $2 million to settle allegations they violated the False Claims Act, according to Acting U.S. Attorney William E. Fitzpatrick.
The allegations levied against Progr... Date: November 17, 2017 Source: BestWire News
Progressive CFO Says Company Likely to Let Federal Tax Change Benefit Net Earnings: Progressive Corp. would let federal tax change benefits fall to the bottom line, Chief Financial Officer John Sauerland said during an earnings call.
However, he said the company would consider the competitive environment ... Date: November 03, 2017 Source: BestWire News
Progressive Awarded Ohio Tax Credit to Create 900 Jobs: Progressive Casualty Insurance Co. has been awarded a state tax credit to create 900 full-time positions expected to generate an additional $63 million in payroll annually.
The Ohio Tax Credit Authority awarded job creatio... Date: October 31, 2017 Source: BestWire News
Progressive Third-Quarter Net Up 13% Despite Cat Losses From Hurricanes Harvey, Irma: Progressive Corp. catastrophe losses more than quadrupled in September to $155 million after Hurricane Irma hit Florida. The company’s catastrophe losses also spiked in August on Hurricane Harvey losses, but quarterly net inc... Date: October 17, 2017 Source: BestWire News
Progressive: Hurricane Harvey Generated Nearly All of $254 Million of August Catastrophe Losses: Hurricane Harvey caused more than 90% of Progressive Corp.’s $254 million of August catastrophe losses, the company said in a statement.
For the month, the company reported a $16.8 million net loss attributable to Progress... Date: September 19, 2017 Source: BestWire News
A.M. Best Revises Outlooks to Positive for American Strategic Insurance Corp and Affiliates: A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of American Strategic Insurance Corp... Date: August 25, 2017 Source: BestWire News
A.M. Best Revises Outlooks to Positive for American Strategic Insurance Corp and Affiliates: A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of American Strategic Insurance Corp... Date: August 25, 2017 Source: Press Release
Progressive July Catastrophe Losses Fall Sharply: Progressive Corp. catastrophe losses fell by more than half to $22 million in July, but year-to-date are slightly ahead of 2016 pace, according to a company statement.
Nearly 75% of catastrophe losses in July were due to h... Date: August 16, 2017 Source: BestWire News
Progressive Exec: Autonomous Features Reduce Frequency; Degree Varies By Coverage: Automobile technology such as automatic braking and blind-spot warning show really good evidence for reducing frequency, although the impact varies by coverage, Progressive Corp. personal auto product development leader John ... Date: August 03, 2017 Source: BestWire News
Progressive 2Q Net Jumps 93% Despite Spike in June Catastrophe Losses: Progressive Corp. catastrophe losses more than quadrupled in June on Central U.S. wind and hail losses, largely in Texas, Minnesota and Nebraska. Its second-quarter net income increased sharply.
Net income attributable to ... Date: July 18, 2017 Source: BestWire News
Insurance Council: Top-10 Texas Auto Insurers Paid $2.03 Billion in Comprehensive Claims Last Year: The top 10 automobile insurers in Texas paid $2.03 billion in comprehensive coverage claims last year after wind and hail claims soared and the cost to repair vehicles continued to climb.
Insurers declared 20% of autos dam... Date: July 07, 2017 Source: BestWire News
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