Near-record snowfall and prolonged extreme cold throughout much of the U.S. have caused more than $1.5 billion in insured losses so far this year, according to the Insurance Information Institute. See the Top 10 winter storm and damage events in the U.S. and Canada from 1980 to 2013.
Liberty Mutual saw net written premiums increase by 5.3% and catastrophe losses decline by 88% in 2013s fourth quarter, leading to net income attributable to the company of $496 million, compared to a $234 million net loss for the same period the year before.
Liberty Mutual saw net written premiums increase by 5.3% and catastrophe losses decline by 88% in 2013s fourth quarter, leading to net income attributable to the company of $496 million, compared to a $234 million net loss for the same period the year before.
One out of three senior investment managers at global insurance companies worry current legacy systems may fail to meet future regulatory requirements.