Industry News
Rising Prices, Low Satisfaction Drive 49% of Customers to Shop For New Auto Insurance
Increased premiums combined with lackluster customer satisfaction scores are driving record numbers of auto insurance customers into the market for a new policy, according to the J.D. Power 2024 U.S. ...
Berkshire Wary of “Fashionable’ Cyber Insurance, AI
While Berkshire Hathaway made money on its personal auto insurance business GEICO, and even on a big bet it placed on property-catastrophe reinsurance in Florida last year, one place where the ...
Jain Successor Is Recurring Berkshire Board Topic; Leadership Lessons
The man responsible for providing billions of dollars of insurance for some of the world's biggest events, Ajit Jain, told investors in Berkshire Hathaway that his eventual replacement as the leader ...
Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech
Berkshire Hathaway continued to deliver eye-popping results for its insurance and reinsurance operations during the first quarter of 2024, with underwriting profits for personal auto insurer GEICO ...
Buffett Praises Successors, Lauds Apple Despite Lowering Stake
Warren Buffett assured Berkshire Hathaway shareholders on Saturday that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its ...
Study Finds Just 52% of Last Decade’s Largest Carrier M&As Created Long-Term Value
The larger the merger and acquisition deal is, the less likely it will create long-term value, a new study has revealed. A first-of-its-kind study by ACORD, the standards-setting body for the global ...
Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse
Chubb, which had insured Baltimore's Francis Scott Key Bridge, is getting ready to pay $350 million to the state of Maryland, in what could be the first major payout tied to ...
Auto Insurance Price Inflation Overstated, Swiss Re Economists Say
The sticker shock that U.S. drivers feel when they see their auto insurance premiums jump is real—but it's not quite as bad as a major economic indicator suggests, according to Swiss Re economists. ...
Allstate Tops Profit Estimates on Higher Premiums, Investment Returns
Insurer Allstate posted an upbeat first-quarter profit on Wednesday, helped by higher premiums and stronger investment returns.
Insurers usually see stable product demand ...