insurance market analysis. Archives

State Farm’s Next Move: A Comeback in the Making?

June 29, 2025June 27, 2025 Ben Jones

Can State Farm Reclaim the Throne? Progressive has done it. They’ve knocked State Farm off the top spot as the biggest U.S. auto insurer. But what’s next? State Farm isn’t taking this sitting down. With a market share of 16.2%—just a hair behind Progressive’s 16.4%—you can bet they’re plotting a comeback. What’s State Farm’s Next Move? State Farm isn’t exactly new to dominating the auto insurance scene. They’ve been the leader for decades. But losing the top spot stings. How will they claw their way back? Experts say State Farm…

How Allstate is Navigating a Year of Extreme Weather

June 20, 2025 Angela Linders

Allstate’s Catastrophe Losses Highlight Industry Struggles – May’s Stormy Toll Allstate Corp. recently reported $777 million in pretax catastrophe losses for May 2025. What caused the damage? Three massive wind and hail events, accounting for a staggering 70% of the month’s total losses. That’s just three storms out of 11 disastrous events. Combine April and May, and the losses balloon to $1.37 billion. For context, the January–February period wasn’t much easier. Allstate recorded $1.17 billion in pretax catastrophe losses, driven by wildfires in Southern California. Strong winds. Dry landscapes. It’s a…

Insurance Giants in Focus: A Tale of Two Third Quarters

November 6, 2024November 5, 2024 Ester Adams

Spotlight for Insurance Investors As the third-quarter financial results roll in, the spotlight is on two titans of the insurance industry: Berkshire Hathaway and Allstate. Both companies have reported significant figures that reflect their current standing and future prospects in the insurance market. The question arises: Are insurance investors likely to shift their focus, perhaps swayed by Allstate’s recent performance? Berkshire Hathaway: Navigating Setbacks Berkshire Hathaway, renowned for its exceptional insurance underwriting, faced uncharacteristic setbacks this quarter. The company reported more than $1 billion in insurance-related losses, attributed to increased…

Car Insurance Costs Explode in 2024 with an Overall Jaw-Dropping 26% Hike

August 21, 2024August 20, 2024 H. Cutner

Car Insurance Premiums Surge in 2024 Car insurance premiums skyrocketed by an average of 26% in 2024, pushing the national average cost for full coverage to a staggering $2,543 per year. This marks a significant rise from $2,014 in 2023 and $1,771 in 2022. Several factors contribute to this surge: The Bureau of Labor Statistics notes that while overall annual inflation was 3.2%, car insurance rates spiked 20.6%. States differ in rate increases, with New Jersey and Missouri seeing hikes of 45.69% and 44.16%, respectively. Florida and California remain among…