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Property and Casualty Insurance

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  • UPDATE 2-Allstate profit beats estimates as premiums rise Wednesday, 29 Oct 2014 | 6:09 PM ET

    Oct 29- Allstate Corp, the largest publicly traded home and auto insurer in the United States, reported a higher-than-expected quarterly profit as it earned more premiums. Allstate's net income available to common shareholders rose to $750 million, or $1.74 per share, in the third quarter ended Sept. 30, from $310 million, or 66 cents per share, a year earlier.

  • Oct 23- Property and casualty insurer Chubb Corp raised its full-year profit forecast on Thursday after a drop in catastrophe losses and higher premium income helped the company report stronger-than-expected third-quarter earnings. Chubb's shares rose about 4 percent in extended trading after closing at $94.26 on the New York Stock Exchange.

  • Oct 21- Property and casualty insurer Travelers Cos Inc reported a better-than-expected rise in quarterly operating profit, helped by higher net investment income and a fall in disaster-related losses. Operating earnings of $2.61 per share in the third quarter ended Sept. 30 handily beat the average analyst estimate of $2.27, according to Thomson Reuters...

  • Not knowing what you don't know about auto and homeowners insurance could be an expensive mistake, according to a new Insure.com survey.

  • Ebola: New insurance deal with an outbreak Friday, 17 Oct 2014 | 5:37 PM ET
    A custodial worker wears a mask and eye protection to guard against the Ebola virus as he prepares to clean Ruth Cherry Intermediate School in Dallas.

    A Lloyd's of London unit is underwriting two forms of insurance to cover businesses that shut down as a result of Ebola and other diseases.

  • UPDATE 2-Allianz CEO Diekmann to step aside in May Thursday, 2 Oct 2014 | 11:02 AM ET

    FRANKFURT, Oct 2- Allianz will replace its chief executive earlier than expected, promoting insider Oliver Baete from May as the insurer seeks to restore order at Pimco, its U.S. funds business beset by investor and executive defections. Baete, 49, had been seen as front runner for the job, and is currently serving as Allianz's board member for insurance...

  • Allianz leadership challenged as Pimco's Gross exits Friday, 26 Sep 2014 | 3:42 PM ET

    *Allianz shareholders call for stable leadership. *Contract of Allianz CEO, others up for renewal. FRANKFURT, Sept 26- German insurer Allianz suffered a humiliating blow on Friday with the resignation of renowned investor Bill Gross as leader of Pimco, the asset manager Allianz relies on for one fourth of its operating profit.

  • Insurers turn to big data to help identify risks Wednesday, 17 Sep 2014 | 10:48 AM ET

    MONACO, Sept 17- Insurance companies are increasingly turning to "big data" from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles. Hamilton Re, a new Bermuda- based reinsurer, hopes that heavy data-crunching technology will give it an advantage over rivals and boost its bottom line.

  • Expect the unexpected: More 9.0 megaquakes coming Tuesday, 16 Sep 2014 | 1:15 PM ET
    A catamaran sightseeing boat, sits atop a two-story Japanese inn on April 3, 2011 in Iwate Prefecture, Japan.

    Researchers say that most of the Pacific's earthquake zones are capable of generating shocks at least as strong as magnitude 9, NBC News reports.

  • NAPA, Calif. Aug 28- During Sunday's 6.0 magnitude earthquake, some $75,000 worth of bottles of wine, rum and whiskey flew off the shelves of Aiyaz Masani's liquor store in Napa, California.

  • Extreme weather may put US disaster prep to the test Saturday, 24 May 2014 | 6:00 AM ET

    With hurricane season just around the corner, extreme weather outbreaks may put disaster preparedness and recovery plans to the test.

  • Lloyd’s warns on climate change impact Thursday, 8 May 2014 | 2:51 AM ET
    Three vehicles crashed into a creek close after the road washed out from beneath them in Broomfield Colorado, September 12, 2013.

    Lloyd’s of London called on the insurance industry to factor climate change into risk models on Thursday.

  • No climate change impact on insurance biz: Buffett Monday, 3 Mar 2014 | 10:00 AM ET

    The effects of climate change, "if any," have not affected the insurance market, Warren Buffett told CNBC—adding he's not calculating catastrophe probabilities differently.

  • AIG cuts workforce by 3% after earnings beat Thursday, 13 Feb 2014 | 4:01 PM ET
    A man walks into the American International Group Inc. offices in New York, U.S., on Tuesday, Oct. 29, 2013.

    American International Group posted earnings excluding items of $1.15 per share on revenue of $8.62 billion, beating Wall Street estimates.

  • Flood insurance battle reaching high-water mark Friday, 7 Feb 2014 | 1:57 PM ET
    Flood damage in Salina, Colo., in 2013

    A law that was designed to curb deficits in the national flood insurance program is now the target of repeals.

  • Investors unsure, but US economy is strong: AIG CEO Monday, 16 Dec 2013 | 9:09 AM ET
    Robert Benmosche, CEO and president of AIG.

    "When I go around to my fellow CEOs, people are frightened about whether you want to invest in the United States," he said.

  • Think carefully before filing a homeowners claim Tuesday, 22 Oct 2013 | 7:44 AM ET

    The average rate hike for a family filing a homeowners claim is about 9 percent, or $150 a year, according to a new study.

  • Four Questions to Ask Before Hurricane Season Hits Thursday, 30 May 2013 | 9:24 AM ET
    Workers board up windows to protect from hurricane winds.

    With a forecast for an "active" hurricane season, you may want to call to your insurance agent to make sure you're covered.

  • Oklahoma: Where Financial Relief Will Come From Wednesday, 22 May 2013 | 2:44 AM ET
    Cars are piled up after a devastating tornado hits Moore, Oklahoma are marked with with spray paint after they were searched for victims.

    Once the dust settles and the victims have been accounted for, Moore, Okla., will begin the gargantuan task of rebuilding itself. It's a task that will take billions of dollars in federal and state aid, insurance claims and charitable donations, the CSM reports.

  • China Property Transaction Volumes to Slow  Tuesday, 23 Apr 2013 | 12:32 AM ET

    Michael Klibaner, Regional Director, Head of Research, Greater China at Jones Lang LaSalle says transaction volumes in China's property market peaked in March and will therefore slow in Q2.