Underwriting losses at the massive car-insurance business operated by State Farm Mutual Automobile Insurance Co. widened in 2010, even as the biggest home and auto insurer in the U.S. raised prices. Get the full story »
Inside these posts: Insurance earnings
Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Allstate’s net income falls on catastrophe losses
Auto and home insurer Allstate says its net income fell sharply in the fourth quarter as an Arizona hailstorm caused it to pay out far more in catastrophe losses.
In the final three months of last year, the company earned $296 million, or 55 cents per share. That’s down from $518 million, or 96 cents per share, in the year-ago period. Get the full story »
Snow likely to rain on insurers’ earnings
First-quarter results of Northbrook-based Allstate Corp. and other property insurers are likely to include higher catastrophe losses due to the winter storms that have swept much of the country.
Winter storms are the third-biggest cause of catastrophe losses, behind hurricanes and tornadoes, according to the Insurance Information Institute. Get the full story »
Fewer claims lift WellPoint, Aetna in 3Q
WellPoint Inc. and Aetna Inc. raised their profit forecasts for the year as members avoided doctor visits or delayed care to save money, while the large U.S. health insurers stand to see an improved political climate for their business under the new Congress.
Both reported higher-than-expected quarterly profits Wednesday, saying they benefited from having to pay out less in medical costs. Get the full story »
