Latest news with #Travelers
Yahoo
a day ago
- Business
- Yahoo
Allstate quarterly profit jumps on underwriting strength
(Reuters) -Allstate reported a jump in second-quarter profit on Wednesday, driven by strong underwriting performance and increased investment returns. Property and casualty insurers benefited during the quarter as individuals and businesses continued spending on insurance policies amid macroeconomic uncertainty and concerns over severe weather-related catastrophes. Underwriting income in Allstate's property-liability segment jumped to $1.28 billion in the second quarter, up from a loss of $145 million in the year-ago period. The segment reported an underlying combined ratio of 79.5%, compared to 85.3% a year earlier. A ratio below 100% indicates the insurer earned more in premiums than it paid out in claims. Insurance bellwether Travelers beat Wall Street estimates earlier in the month, while Chubb also reported higher profits due to effective underwriting and strong portfolio management. Allstate's net investment income increased to $754 million from $712 million in the same period last year. The Northbrook, Illinois-based insurer reported adjusted net income of $1.59 billion, or $5.94 per share, for the quarter ended June 30, compared with $429 million, or $1.61 per share, a year earlier.
Reuters
a day ago
- Business
- Reuters
Allstate quarterly profit jumps on underwriting strength
July 30 (Reuters) - Allstate (ALL.N), opens new tab reported a jump in second-quarter profit on Wednesday, driven by strong underwriting performance and increased investment returns. Property and casualty insurers benefited during the quarter as individuals and businesses continued spending on insurance policies amid macroeconomic uncertainty and concerns over severe weather-related catastrophes. Underwriting income in Allstate's property-liability segment jumped to $1.28 billion in the second quarter, up from a loss of $145 million in the year-ago period. The segment reported an underlying combined ratio of 79.5%, compared to 85.3% a year earlier. A ratio below 100% indicates the insurer earned more in premiums than it paid out in claims. Insurance bellwether Travelers (TRV.N), opens new tab beat Wall Street estimates earlier in the month, while Chubb also reported higher profits due to effective underwriting and strong portfolio management. Allstate's net investment income increased to $754 million from $712 million in the same period last year. The Northbrook, Illinois-based insurer reported adjusted net income of $1.59 billion, or $5.94 per share, for the quarter ended June 30, compared with $429 million, or $1.61 per share, a year earlier.
Condé Nast Traveler
a day ago
- Climate
- Condé Nast Traveler
What to Know About Tsunami Warnings in Hawaii, California, and Japan
An 8.8-magnitude earthquake struck eastern Russia's Kamchatka peninsula on Wednesday, July 30, sending shockwaves throughout the Pacific Ocean. The massive quake has triggered tsunami warnings in Hawaii, Alaska, Japan, and beyond. Officials in Hawaii and Japan have downgraded their tsunami warnings and lifted evacuation orders, while parts of California remain under the highest alert level. If you have trips planned to any of the impacted destinations, here's the latest travel guidance and what to expect. California A 40-mile portion of northern California's coast near the state's border with Oregon was placed under a tsunami warning Wednesday morning. A tsunami warning is the highest alert level from the National Weather service and means 'dangerous coastal flooding and powerful currents' are possible. A larger stretch of the West Coast, including the coastline of California, Oregon, Washington, and large swaths of Alaska, has also been placed on a less-imminent tsunami advisory. The advisory is the second-highest alert level and means that 'strong currents and waves dangerous to those in/very near water' are possible. Travelers and residents in areas under advisories should 'stay out of the water and away from beaches and waterways,' according to the National Weather Service. 'We are continuing to see fluctuations greater than a foot along our coast. Therefore, the Tsunami Advisory remains in effect until further notice," the National Weather Service for the Bay Area said in a statement on X, posted Wednesday at 8:30 a.m. local time. Flights continue to operate on schedule at San Francisco International Airport and Los Angeles International Airport. Hawaii On Tuesday evening, Hawaii had been expecting a so-called wave of significance to hit its islands and issued tsunami warnings and evacuation orders for coastal inundation zones. Fortunately, the impact on the islands was milder than expected, and the warning was downgraded to a tsunami advisory just before 11 p.m. local time on Tuesday evening. 'This means that dangerous tsunami waves are no longer expected to impact the state,' said an alert from the Oahu Department of Emergency Management. 'However, dangerous conditions are still possible in near-shore waters within the Hawaiian Islands. Use extreme caution when near or on the water.' Evacuation orders for all of Hawaii County were also canceled, with residents and visitors able to return home. Officials said that widespread flooding was not expected across the islands. Similar tsunami alerts were also canceled in parts of Alaska and Southern California. Alaska Airlines and Hawaiian Airlines both restarted flights to Hawaii on Wednesday morning. The two carriers had paused operations across the islands on Tuesday afternoon. Pacific islands Tsunami alerts were also in place across many Pacific islands on Wednesday. Waves began hitting the Marquesas Islands in French Polynesia on Wednesday afternoon local time, according to CNN. The waves there were expected to be up to 2.5 meters (about eight feet) high. Tourist areas in Ecuador's Galapagos Islands were closed on Wednesday, as the Ecuadorian Oceanographic Institute of the Naval Forces predicted waves up to 1.5 meters (about five feet) tall could hit coastal areas. Beaches and other public areas, including protected areas that require maritime access, were closed on Wednesday, according to CNN. Japan On Wednesday, officials downgraded tsunami warnings to advisories across most of Japan, where 2 million people were evacuated from coastal areas, CNN reported.
Yahoo
23-07-2025
- Business
- Yahoo
Old Republic International (ORI) Reports Q2: Everything You Need To Know Ahead Of Earnings
Insurance conglomerate Old Republic International (NYSE:ORI) will be reporting earnings this Thursday before market open. Here's what to expect. Old Republic International met analysts' revenue expectations last quarter, reporting revenues of $2.06 billion, up 2.1% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts' book value per share estimates but a significant miss of analysts' net premiums earned estimates. Is Old Republic International a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Old Republic International's revenue to grow 18.3% year on year to $2.21 billion, improving from the 4.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.81 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Old Republic International has missed Wall Street's revenue estimates five times over the last two years. Looking at Old Republic International's peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 21.3%, beating analysts' expectations by 1.4%, and Travelers reported revenues up 7.3%, in line with consensus estimates. Progressive traded up 2.2% following the results while Travelers was also up 5.5%. Read our full analysis of Progressive's results here and Travelers's results here. The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the property & casualty insurance stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.7% on average over the last month. Old Republic International is down 3.7% during the same time and is heading into earnings with an average analyst price target of $42 (compared to the current share price of $36.78). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-07-2025
- Business
- Yahoo
Earnings To Watch: Kinsale Capital Group (KNSL) Reports Q2 Results Tomorrow
Specialty insurance provider Kinsale Capital Group (NYSE:KNSL) will be reporting results this Thursday after the bell. Here's what investors should know. Kinsale Capital Group missed analysts' revenue expectations by 0.7% last quarter, reporting revenues of $423.4 million, up 13.6% year on year. It was a strong quarter for the company, with a solid beat of analysts' book value per share estimates and an impressive beat of analysts' EPS estimates. Is Kinsale Capital Group a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Kinsale Capital Group's revenue to grow 12.9% year on year to $434.3 million, slowing from the 30% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.42 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Kinsale Capital Group has missed Wall Street's revenue estimates three times over the last two years. Looking at Kinsale Capital Group's peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 21.3%, beating analysts' expectations by 1.4%, and Travelers reported revenues up 7.3%, in line with consensus estimates. Progressive traded up 2.2% following the results while Travelers was also up 5.5%. Read our full analysis of Progressive's results here and Travelers's results here. The euphoria surrounding Trump's November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the property & casualty insurance stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.7% on average over the last month. Kinsale Capital Group is up 1.6% during the same time and is heading into earnings with an average analyst price target of $478.38 (compared to the current share price of $485.50). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
