Content from Chad Hemenway
Safeco to Take Personal Lines Renewal Business of Main Street America
Liberty Mutual's Safeco Insurance has agreed to take the personal lines business of Main Street America, marking the second time in two months that Safeco has stepped in to assume a personal lines ...
Hippo Sells Majority Stake in First Connect Insurance to Centana Growth Partners
InsurTech Hippo said it has sold a majority stake in First Connect Insurance Services, a digital platform for independent agents. The buyer is private equity fund Centana Growth Partners, who with ...
Liberty Mutual Quadruples Q3 Net Income Despite Catastrophe Losses
Liberty Mutual Holding Company said consolidated third quarter net income more than quadrupled to $897 million compared to $215 million during the same period a year ago. Catastrophe losses remained ...
AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market
American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead ...
NFIP to Begin Taking Monthly Flood Insurance Payments
The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal ...
Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips
Third-quarter underwriting income with Berkshire Hathaway's insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases ...
‘Pivotal’ Q3 Sees InsurTech Root Achieves Net Income Profit for the First Time
For the first time in the company's history, Root Inc. recorded a quarterly net income profit. The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net ...
Allstate Says It’s Ready to Grow Homeowners Line With All 3 Distribution Channels
Allstate said it sees opportunity where others may not — in homeowners insurance. And the insurer plans to use all three distribution channels to do it. Due to rising trends in the frequency and ...