This week in insurance we are following more earnings news, another private equity deal and some other interesting tidbits. Here are the three things we learned this week:
- The earnings storylines this week come from Chubb who reports per share net income of $5.34 an increase of 107.8% from a year earlier powered by profitable growth in commercial lines. Allstate reports a big quarter with 52.2% increase in net income driven by lower auto claim frequency and higher home premiums. It will be interesting to see how insurers make the case for rising rates with these impressive profitability results.
- Another major deal was announced with CoreLogic being taken private at 51% premium over their recent stock price. The culmination of a long process to review their strategic options ends with them finding a good partner with StonePoint who has experience in P&C insurance and real estate.
- Majesco releases their 2021 strategic priorities report. This annual research lays out the thought process of insurers and the growing divide between innovation leaders and laggards in the post pandemic era. And finally a bonus 4. Amazon showcases an AI-driven in-vehicle / camera system (watch video) that could be a preview of the next generation of telematics for auto insurers.
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