Tag: underwriting losses

Berkshire insurance and investments lead to 37 percent profit drop

H. Cutner
warren buffett berkshire insurance news

The slump in the industry has contributed to a reduction in the company’s revenues. According to a recent report from the company, the Berkshire insurance and investments situation in the second quarter of this year wasn’t necessarily something that would be causing investors to dance about with glee. During that quarter, the profits at Berkshire Hathaway Inc, under Warren Buffett, fell by 37 percent. Greatly to blame for the issues with profits was the Berkshire insurance arm, as there had already been a decline in the gains from investments, but…

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American insurance industry feeling the pinch of weak investments and catastrophes

Julie Campbell

A new report released by A.M. Best Co. Inc., has stated that the unprecedented number of natural disasters, poor returns from investments, and an economy that continued to struggle in 2011, has made it exceptionally difficult for the American property and casualty insurance industry’s commercial insurance and reinsurance sectors to grow and has caused notable hurt to their operating performances. It’s estimated by the rating agency, based in Oldwick, New Jersey, that last year’s underwriting losses from underwriters in the commercial property and casualty sector were approximately $15.2 billion. This…

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Report shows the rocky road of the property casualty insurance industry during 2011

ISO, a risk assessment firm specializing in the property/casualty insurance industry, and the Property Casualty Insurers Association of America (PCI) have released a new report showing the impact natural disasters had upon the P/C insurance industry in 2011. This year has become infamous for the number of severe storms and other natural disasters that have rocked the U.S. and other nations. The report notes that while the property/casualty industry grew in some aspects, it saw steep losses in others, with the most severe losses coming in a short 9-month period.…

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