Insurance news

• Berkshire profits dented by AIG and insurance losses

  06-05-2017 15:14
  Warren Buffett's Berkshire Hathaway posted a 4.8 percent drop
  in first-quarter operating profit after the company's insurance
  segment fell to an underwriting loss driven by catastrophe claims
  and a charge related to the massive AIG reinsurance deal struck
  earlier this year.
  The company's insurance segment's underwriting result was
  $267mn in the red compared with a $213mn gain from the operations
  in the year-ago quarter, Berkshire said in a report after market
  close on Friday.
  The conglomerate sa
  
  Read more

• Rough US weather week leaves $1bn+ in economic losses

  06-05-2017 02:33
  Stormy weather at the end of last week brought blizzard
  conditions to parts of the Upper Midwest, severe thunderstorms and
  flooding in the Mississippi River basin and deadly tornadoes to
  east Texas, with total damages estimated at more than $1bn, Aon
  Benfield's Impact Forecasting unit said.
  Significant flooding affected parts of Missouri, Oklahoma,
  Illinois and Arkansas, while "especially strong"
  tornadoes struck on 29 April in Van Zandt County, Texas, leading to
  widespread destruction and casua
  
  Read more

• EMC Insurance profit hit by record cat losses

  06-05-2017 02:33
  EMC Insurance Group cited record first-quarter catastrophe
  losses in reporting a plunge in operating profit that missed Wall
  Street expectations by a wide margin.
  The property and casualty (re)insurer posted operating earnings
  that dropped 53 percent to $7.2mn, or $0.34 a share for the period,
  while the consensus forecast from three industry analysts compiled
  by MarketWatch called for $0.54 a share.
  Shares of the Des Moines, Iowa-based carrier fell as much as 6
  percent following the report befor
  
  Read more

• Berkshire Hathaway results disappoint on insurance losses

  06-05-2017 02:21 via ft.com
  Warren Buffett’s conglomerate misses forecasts on eve of annual meeting
  
  Read more

• Advertisement

Follow @Insurance_UKnws on Twitter!