⛈Third-Quarter Loss on Catastrophes
AIG Posts $1.7 Billion Third-Quarter Loss on Catastrophes, Reserve Development.
American International Group Inc. reported a third-quarter net loss of $1.7 billion, compared with net income of $462 million a year ago on catastrophe losses and reserve development. The group …
http://www3.ambest.com/ambv/bestnews/newscontent.aspx?AltSrc=23&RefNum=204126
AIG in big miss on $836mn reserve charge .
2 November 2017
AIG disappointed investors hoping its reserving issues were in the past by taking another big adverse development charge in a Q3 operating loss that was significantly worse than analysts had forecast. The Insurance Insider
The insurance giant reported an operating loss of $1.1bn for the period that exactly reversed the $1.1bn profit generated in the same quarter last year.
At $1.22 a share the performance was a big miss on the $0.79 a share operating loss forecast by Wall Street, based on a…
http://m.insuranceinsider.com/aig-in-big-miss-on-836mn-reserve-charge
Liberty Mutual falls to $886mn loss on $1.2bn cat bill | The Insurance Insider.
Liberty Mutual posted an $886mn net operating loss for the third quarter as it revealed that it was expecting claims from Hurricanes Harvey, Irma, and Maria to total $1.2bn after taxes.
The catastrophe losses pushed the carrier’s combined ratio to 116.2 percent, a deterioration of 18.4 points. But David Long, president and CEO of Liberty Mutual Insurance, was quick to allay concerns. “The fundamentals of the business though remain healthy,” he said pointing to the group’s 92.5 percent ex-cat combined…
http://m.insuranceinsider.com/liberty-mutual-falls-to-886mn-loss-on-1.2bn-cat-bill
HCI pushed to loss by Hurricane Irma $53.6mn bill | The Insurance Insider
http://m.insuranceinsider.com/hci-pushed-to-loss-by-hurricane-irma-53.6mn-bill
Alleghany Q3 loss less than expected despite cats | The Insurance Insider
http://m.insuranceinsider.com/alleghany-q3-loss-less-than-expected-despite-cats