California fires seen causing $30B in insured losses, Wells Fargo Says

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• Seeking Alpha | January 13, 2025

There Is a Safety Valve for Private Home Insurance in California

A segment of the property-insurance market has shifted away from standard policies toward more bespoke offerings from insurers.

Yahoo | January 12, 2025

Allstate Stock, Other Insurers Fall as Firefighters Begin Containing L.A. Fires. Record Losses Are Expected.

Shares in Mercury, a publicly-owned insurer highly exposed to California, crashed ahead of Friday's opening bell.

Yahoo | January 10, 2025

California fires spark insurance crisis, projected losses of $150B

Five wildfires are still burning in Southern California, spreading to nearly 30,000 acres and destroying over 10,000 homes and businesses. While losses from the fires are expected to reach $150 billion, according to AccuWeather, these events are presenting a serious challenge for the insurance industry, particularly homeowners insurance in the region. CFRA Equity Research Vice President Cathy Seifert joins Morning Brief to uncover the impact this natural disaster event could pose for the broader insurance industry; major insurance stocks like Allstate (ALL), the Travelers Companies (TRV), Chubb (CB), Mercury (MCY), and American International Group (AIG) have been falling amid the increasing severity of the fires. “The insurance industry does have the capacity to address these claims. Th...

Yahoo | January 10, 2025

Berkshire Hathaway’s Losses From L.A. Fires Should Be Small. Which Insurers Are More Exposed.

Berkshire it isn’t a major homeowners insurer in California. It’s is a sizable auto insurer in the state through its Geico unit but auto insurers aren’t expected to suffer substantial losses.

Yahoo | January 10, 2025

AIG names Christopher Flatt as chief underwriting officer

AIG commercial lines programmes EVP and Glatfelter Insurance Group president Erin Fry will succeed Flatt as head of AIG North America alternative channels.

Yahoo | January 10, 2025

AIG appoints Christopher Flatt as chief underwriting officer

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• Seeking Alpha | January 9, 2025

Here's Why You Should Retain American International Stock for Now

AIG remains well-poised for growth on the back of strong retention rates in the General Insurance segment. Divestitures and cost-cutting initiatives drive margins.

Yahoo | January 9, 2025

AIG Appoints Christopher Flatt Global Chief Underwriting Officer

NEW YORK, January 09, 2025--American International Group, Inc. (NYSE: AIG) today announced that Christopher Flatt, currently Head of AIG North America Alternative Channels, has been named Global Chief Underwriting Officer, effective immediately. Mr. Flatt will report directly to Peter Zaffino, Chairman & Chief Executive Officer, AIG and join the company’s Executive Leadership Team.

Yahoo | January 9, 2025

Private Client Select Appoints Ross Bowie as Chief Executive Officer

NEW YORK, January 08, 2025--Private Client Select Insurance Services LLC (PCS), a leading independent Managing General Underwriter that is majority owned by Stone Point Capital LLC and American International Group, Inc. (NYSE: AIG), today announced that Ross Bowie has been appointed Chief Executive Officer, effective immediately.

Yahoo | January 8, 2025