Allstate Corp. says it expects $1.4 billion in losses for the month of April after severe weather battered much of the South, generating more than 100,000 claims.
Nationwide Insurance says its 2011 first-quarter net income increased 29 percent to $512 million on higher net operating income in the property and casualty and financial services segments.
Catastrophe risk modeler EQECAT has dramatically changed its estimate of insured losses from the Tohoku, Japan earthquake to between $22 billion and $39 billion.
Insurance-industry experts are cautioning that the death of Osama bin Laden does not represent the end of the terrorism threat for the United States. The threat, in fact, may worsen if terrorists seek to execute a reprisal attack.
Storms that spawned deadly tornadoes in the South from April 19 to April 27 are expected to cause between $2 billion and $5 billion in insured losses, according to modeling firm EQECAT.
Robert H. Benmosche, president and CEO of American International Group Inc., says the company is “ready to move forward” after reporting an 85 percent drop in first-quarter net income.
Liberty Mutual Group says net income increased nearly 15 percent during the first quarter when compared with the same quarter in 2010 and the insurer released a preliminary estimate from April storms in the U.S.