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Allstate issues first bond managed solely by minority and female-owned companies
Issue comes after push to improve diversity in insurance market this year
Allstate profits rise 27% despite higher catastrophe losses
Cat losses near double to $990m as company hit by storms and wildfires
ERM plays catchup on digital transformation
Digital transformation has long been heralded as a game changer for the insurance business. However, its impact has mostly been confined to insurers' front-end processes - with risk and capital functions proving more challenging to digitalise. Ronan McCaughey explains
Allstate expects minimum $660m Q3 hit from job cuts and interest rates
US insurer's restructuring plan will cut around 8% of its workforce
Hawaiian insurers look on as hurricane Douglas approaches
State Farm Group, Heritage Insurance Holdings Group and Tokio Marine are the main writers for homeowners' multi-peril lines
Travelers warns of $114m Q2 Covid-19 losses
Insurer also expects $400m subrogation wildfire-linked recoveries in Q3
Allstate reports $1bn in cat losses for May and April
Figure nearly half of full year 2019 losses, caused by weather in Texas and Midwest
Allstate hit with $632m cat losses
The losses were for six events, plus unfavourable reserve re-estimates
Allstate profits down 57% on investments in Q1
But P&L underwriting income jumps 92% on fewer drivers in pandemic
Whisper it quietly... many UK motor insurers are offering Covid-19 refunds
US motor insurers have caught the headlines with multi-million-dollar rebates to customers. Their UK counterparts seem to be in the slow lane, but under the bonnet they are taking action, as Ronan McCaughey explains