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The Atlantic Hurricane Season starts this week, and forecasters are calling for a normal number of stormsbut some warn that the odds are in favor of a U.S. landfall.
Allstate Corp. saw its fourth-quarter net income jump 145 percent, while W.R. Berkley, ACE Limited, CNA and Validus reported Q4 net-income decreases along with global reinsurer Munich Re.
Three large U.S.-based property-and-casualty insurers were unable to post third-quarter profits, with The Hartford stating its net income was flat and American International Group (AIG) and Liberty Mutual Group both reporting net losses.
While there are doubts about whether the property and casualty insurance industry is getting set to enter a hard-market cycle, it increasingly looks like rates are beginning to stabilize in many lines, according to observations by an industry report and some chief executives.
While American International Group reported a 2011 fourth-quarter net profit of more than $11 billion, its property and casualty subsidiary Chartis came in with an underwriting loss of $5.2 billion, primarily because of its reserve charge.
Two groups of forecasters are predicting another busy hurricane season this year after coming off nearly spot-on predictions for a very active 2010 season.
The latest surveys of rate changes for the group medical and the property and casualty insurance markets reveal a tale of two very different markets--with medical rates continuing to climb and p&c prices still falling.
No matter how you look at it, sellers appear to be locked into a persistently soft commercial lines insurance market, and it's likely to remain that way for quite some time.
{ "author": { "name": "Mark E Ruquet Chad Hemenway", "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "description": "", "imageLarge": "https://secure.gravatar.com/avatar/f16d6fc2845f417ea0e93a3f2b6cd37d?s=136&d=mm&r=g", "estimate": 8, "social": [], "articles": [ { "uri": "/2012/06/04/hurricane-forecast-for-2012-cloudy-with-chance-of/", "title": "Hurricane Forecast for 2012: Cloudy, With Chance of Landfall", "byline": " Mark E. Ruquet, Chad Hemenway ", "kicker": "News", "prettyDate": "June 04, 2012", "timeToRead": "2 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "summary": "The Atlantic Hurricane Season starts this week, and forecasters are calling for a normal number of stormsbut some warn that the odds are in favor of a U.S. landfall.", "body": null }, { "uri": "/2012/02/09/allstate-q4-net-income-soars-other-carriers-profits-slip/", "title": "Allstate Q4 Net Income Soars, Other Carriers’ Profits Slip", "byline": "Mark E. Ruquet, Chad Hemenway", "kicker": "News", "prettyDate": "February 09, 2012", "timeToRead": "4 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "summary": "Allstate Corp. saw its fourth-quarter net income jump 145 percent, while W.R. Berkley, ACE Limited, CNA and Validus reported Q4 net-income decreases along with global reinsurer Munich Re.", "body": null }, { "uri": "/2011/11/10/three-major-u-s-insurers-report-third-quarter-stru/", "title": "Three Major U.S. Insurers Report Third-Quarter Struggles", "byline": "Mark E. Ruquet, Chad Hemenway", "kicker": "", "prettyDate": "November 10, 2011", "timeToRead": "2 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [], "summary": "Three large U.S.-based property-and-casualty insurers were unable to post third-quarter profits, with The Hartford stating its net income was flat and American International Group (AIG) and Liberty Mutual Group both reporting net losses.", "body": null }, { "uri": "/2011/07/29/industry-seeing-rate-increases-but-market-swing-not-expected-yet/", "title": "Industry Seeing Rate Increases, But Market Swing Not Expected Yet", "byline": "Mark E. Ruquet, Chad Hemenway", "kicker": "News", "prettyDate": "July 29, 2011", "timeToRead": "4 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "summary": "While there are doubts about whether the property and casualty insurance industry is getting set to enter a hard-market cycle, it increasingly looks like rates are beginning to stabilize in many lines, according to observations by an industry report and some chief executives.", "body": null }, { "uri": "/2011/03/07/chartis-sees-5b-underwriting-loss-on-reserve-charge-sp-lowers-rating/", "title": "Chartis Sees $5B Underwriting Loss On Reserve Charge; S&P Lowers Rating", "byline": "Mark E. Ruquet, Chad Hemenway", "kicker": "News", "prettyDate": "March 07, 2011", "timeToRead": "4 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "summary": "While American International Group reported a 2011 fourth-quarter net profit of more than $11 billion, its property and casualty subsidiary Chartis came in with an underwriting loss of $5.2 billion, primarily because of its reserve charge.", "body": null }, { "uri": "/2011/01/02/2011-expected-to-be-another-busy-hurricane-season/", "title": "2011 Expected To Be Another Busy Hurricane Season", "byline": "Mark E. Ruquet, Chad Hemenway", "kicker": "News", "prettyDate": "January 02, 2011", "timeToRead": "4 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "summary": "Two groups of forecasters are predicting another busy hurricane season this year after coming off nearly spot-on predictions for a very active 2010 season.", "body": null }, { "uri": "/2010/12/12/surveys-find-group-health-rates-still-climbing-pc-rates-still-falling/", "title": "Surveys Find Group Health Rates Still Climbing, P&C Rates Still Falling", "byline": "Mark E. Ruquet, Chad Hemenway", "kicker": "News", "prettyDate": "December 12, 2010", "timeToRead": "4 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "summary": "The latest surveys of rate changes for the group medical and the property and casualty insurance markets reveal a tale of two very different markets--with medical rates continuing to climb and p&c prices still falling.", "body": null }, { "uri": "/2010/07/18/commercial-insurance-rates-locked-into-softening-mode-for-next-few-years/", "title": "Commercial Insurance Rates Locked Into Softening Mode For Next Few Years", "byline": "Mark E. Ruquet, Chad Hemenway", "kicker": "News", "prettyDate": "July 18, 2010", "timeToRead": "7 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mark-e-ruquet-chad-hemenway/", "name": "Mark E. Ruquet, Chad Hemenway" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "summary": "No matter how you look at it, sellers appear to be locked into a persistently soft commercial lines insurance market, and it's likely to remain that way for quite some time.", "body": null } ] } }
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