Allstate, Travelers Leading P/C Insurers to Be Affected by Earl

Source: Dow Jones, The Street

Back | A- | A+
Email This     Print     Subscribe Send this article to your friend Friends Email : Note: Send to more than one friend by separating email addresses with commas or spaces. Subject : Message : Optional Message Sent Your message has been sent to your friend. Thank you! Close
	Tweet

03 Sep 2010

U.S. insurers could experience significant losses from Hurricane Earl's hit in North Carolina and as it makes its way up the east coast.

Allstate and Travelers, according to Morgan Stanley's Gregory Locraft, were the most exposed to Hurricane Earl's losses because they do most of the underwriting for both residential and commercial insurance in the state. Allstate owns about 7.5% of the marketshare and Travelers owns about 4.6%. Nationwide, State Farm and NC Farm Bureau are the top three underwriters in the state.

And according to the Insurance Information Institute (I.I.I.), the leading writers of commercial property and casualty insurance are American International Group( AIG), with 7% of the marketshare; Travelers(TRV), with 6.9% of the market, Liberty Mutual, with 5.9% of the market and Zurich Financial, with 4.5% of the market.