Property & Casualty Insurance
Case studies in property & casualty insurance.
Allstate: How fast should homeowners growth travel?
Allstate had a homeowners growth opportunity and a risk-allocation problem at the same time. Its policy count was rising, new applications were increasing, and its reported first-half homeowners underwriting result had improved sharply from the prior year. Read case
American International Group: The Next Dollar of Capital
At 30 June 2026, AIG reported $7.4 billion of Parent liquidity, including a $3.0 billion committed revolver. It had returned $1.2 billion through common-share repurchases and $504 million through dividends during the first half. AIG repurchased about $195 million more in July; at 31 July, $2.6 billion remained under its Board authorization. Read case
Arch Capital Group: Returning Capital Through a Divided Insurance Market
Arch Capital Group (Arch) repurchased 12.4 million common shares for $1,165.8 million during the second quarter of 2026. The average price was $94.38 per share. At June 30, $2,158.2 million remained under its repurchase authorization. Read case
Assurant and the Smartphone’s Second Life
On August 3, 2023, Assurant filed its second-quarter report. Global Lifestyle, the segment that includes Connected Living and Global Automotive, had generated more revenue than a year earlier, but its adjusted earnings were lower. Inside Connected Living, mobile subscribers and extended service contracts in North America were growing modestly. Read case
Chubb — Underwriting Discipline after a Soft-Market Warning
By 28 July 2026, Chubb had filed its quarterly report for the three months ended 30 June. The results showed sharply different premium trends within North America Commercial P&C. The reported Major Accounts & Specialty category had contracted, while middle-market and small commercial had grown. Read case
Cincinnati Financial — Growth at the Right Price
At the end of July 2026, Cincinnati Financial Corporation (CINF) had a business problem that could be described in two ways. Personal-lines renewal premiums were growing after substantial rate increases, and the segment had returned to underwriting profitability in the first half of 2026. Read case
The Hartford — Should the Board Open the Door to Chubb?
On March 18, 2021, The Hartford Financial Services Group’s board is weighing how to respond to an unsolicited proposal from Chubb. The Hartford has confirmed receipt and said its directors are carefully considering the proposal with financial and legal advisers. Read case
Loews Corporation — What Should the Parent Do With Its Next Dollar?
Loews Corporation owns businesses with different capital needs and cash-flow patterns. At June 30, 2026, the parent reported $4.4 billion of cash and investments, net of receivables and payables, and $1.8 billion of parent debt. Cash reaches the parent through subsidiary distributions, which can vary. Read case
Progressive: Making the next mile count
On November 4, 2024, Progressive filed its quarterly report for the period ended September 30. The numbers described a company again growing quickly after a deliberate effort to restore underwriting profitability. Personal-auto applications had surged, marketing had expanded, and the companywide combined ratio was below its stated ceiling for growth. Read case
Travelers — Scaling AI Without Losing the Judgment
By the end of June 2026, Travelers had launched an AI voice assistant for auto claim intake, an AI claims-intelligence feature for commercial risk managers, employee assistants developed with Anthropic, and an insurance-focused large language model trained on internal documents. Read case
W. R. Berkley: Where should underwriting capacity go next?
In the first weeks of 2026, W. R. Berkley Corporation (Berkley) faced a question that did not appear in its group-wide premium growth number: where should the next dollar of underwriting capacity go? Read case