Financial Results
Chubb’s Q3 profit jumps on lower cat losses, higher investment returns
Chubb reported a rise in third-quarter profit on Tuesday, helped by lower catastrophe losses, higher investment returns and strong underwriting fees.
Resilient consumer spending, despite higher borrowing costs, has helped sustain insurance demand as businesses and households continue to prioritize protection against financial risks, accidents, property damage, and natural disasters.
Stronger underwriting reflects an insurer’s ability to price risk effectively, bolstering profits despite higher claims.
Chubb posted record underwriting income of $2.26 billion on a pretax basis, compared with $1.46 billion a year earlier.
Insurers generate income by investing the premiums they collect from policyholders.
Higher interest rates allow them to earn more on new investments, increasing their total investment income.
The insurer’s pre-tax net investment income surged 9.3% to $1.65 billion during the reported quarter.
Chubb’s global property and casualty net premiums written, excluding agriculture, increased 5.3% to $11.48 billion for the three months ended September 30.
Catastrophe losses came in at $285 million on a pretax basis, compared with $765 million a year earlier.
States encourage insurance mercy for federal workers
The U.S. government shutdown began October 1, 2025, and remains ongoing.
As the U.S. government shutdown that began on October 1 nears the three-week mark, some states’ Departments of Insurance are urging insurance carriers to provide some relief for affected federal employees.
The Illinois Department of Insurance issued a release on October 17, calling on insurance companies to help prevent coverage lapses by providing relief to policyholders experiencing financial hardship due to the shutdown.
“The lapse in federal appropriations since October 1, impacts more than 153,000 Illinoisans who are employees of the federal government,” IDOI Director Ann Gillespie said in the release. “These consumers should not have the added burden of losing insurance coverage because they are not being paid and cannot pay their auto or homeowners insurance premiums.” CONTINUES
News
Illinois AG files suit against State Farm for refusing to give requested information | Repairer Driven News
Illinois Attorney General Kwame Raoul has filed a lawsuit against State Farm Fire and Casualty Insurance Co., State Farm Automobile Insurance, State Farm General Insurance Co., and Oglesby Reinsurance Co., alleging State Farm has refused to comply with a regulatory examination into its nationwide homeowners insurance business.
The suit was filed on behalf of Illinois Department of Insurance (IDOI) Director Ann Gillespie following an examination the department launched in 2024.
The examination was launched to investigate the insurance company’s homeowners’ insurance policies and premiums. A release notes that State Farm is the largest homeowners insurer in the country, and its premiums have risen drastically in recent years.
Research
P&C Insurance Industry Sees Digital Capabilities Gap Shrink between Top Performers and Broader Market, Says New Research
The property and casualty insurance industry has reached a point of competitive convergence, with all 20 carriers evaluated in Corporate Insight's 2025 P&C Insurance Experience Benchmark clustering in the middle tiers (Achieving or Effective). In the third edition of the annual benchmarking report, no insurers finished in either the lowest or highest tiers, signaling that digital laggards have caught up while front-runners have yet to pull decisively ahead.
Top 10 insurance digital features by importance
"We continue to see steady progress across P&C digital platforms for personal lines," says Justin Suter, insurance research manager at CI. "Trailing insurers are catching up and competitive differences are narrowing. Carriers that make strategic investments in the right digital areas can still quickly create meaningful competitive advantages."
The benchmark shows measured industry-wide progress, with the average score rising from 64 to 66 points out of 100.
State Farm retained its first-place position for the third consecutive year with a score of 79, edging closer to the Leading tier threshold of 80. The carrier ranks in the top five across all seven benchmark categories, distinguished by its mobile app excellence and consistent design experience.READ ON
AI in Insurance
Simply Business Pioneers First-of-its-Kind AI Advisor to Simplify Insurance for Small Business Owners
Simply Business, LLC, the leading digital marketplace for easily finding, comparing, and buying tailored small business insurance in the U.S., today announced the launch of its first-of-its-kind AI-powered insurance advisor, transforming the insurance buying process for entrepreneurs.
The AI-powered advisor uses proprietary technology, built on a Retrieval-Augmented Generation (RAG) model, to deliver a hyper-personalized, conversational experience that makes the insurance buying process faster, clearer, and more intuitive. The tool assists the small business owner throughout the buying process - answering questions about coverage types, and providing guidance on coverage limits.
The system leverages AI and large language models (LLMs) to intelligently infer user intent and match queries to a robust, human-verified knowledge base ensuring that answers are not only instant but also accurate. The technology features continuous learning capabilities powered by real-time feedback loops, creating a virtuous cycle of self-improvement.
"Our AI-powered insurance advisor is another milestone in our efforts to simplify the insurance buying process for small business owners," said Dana Edwards, Group CTO at Simply Business. "Importantly, the tool marries advanced technology with the human touch by providing access to our highly skilled agents. We are not just implementing AI; we are pioneering responsible, effective, and scalable solutions that empower entrepreneurs to make confident decisions quickly."
Commentary/Opinion
Casualty reinsurance market adapts to social inflation and capital influx, but discipline holds
Capacity is growing, but so is complexity, says MultiStrat CEO
Despite pressures from social inflation, reserve uncertainty, and increasing competition from insurance-linked securities (ILS) capital, the casualty reinsurance market remains resilient—and, in several areas, is poised for disciplined growth.
That’s according to Bob Forness (pictured), CEO of Bermuda-based MultiStrat, which specializes in casualty and specialty reinsurance and structuring risks for ILS investors. Forness emphasized that while overall pricing momentum has eased from its pandemic-era peak, most casualty lines still maintain adequate rates relative to underlying loss trends.
“Adequate rate trend is only a part of the entire question,” Forness said. “To respond to social inflation, you need a multi-pronged approach: risk selection, contract wording, exclusions, claims oversight, legal panels. Rate is just one element.”
Social inflation and rising severity pressure reinsurance layers
The most persistent headwind remains social inflation, driven by litigation funding, broader liability theories, and rising nuclear verdicts. While primary insurers have been able to secure rate increases in the mid-single digits, reinsurers higher up the tower face amplified volatility.
“Primary layers are somewhat more insulated, but excess casualty writers remain highly exposed to nuclear verdicts,” Forness said. This exposure has driven reinsurers to raise attachment points, tighten wordings, and demand greater transparency into cedents’ claims practices. CONTINUES
Telematics, Driving & Insurance
Sentry® and TruckerCloud partnership fosters safer driving, quicker claims settlement
A new partnership between Sentry® and TruckerCloud, gives trucking companies the option to share driving data—already collected by the telematics devices in most fleets—to help improve driver safety, more rapidly settle claims and avoid lawsuits, and reduce insurance costs.
"When an incident happens, we want to make sure everyone involved gets help as soon as possible," said Nick Saeger, assistant vice president of products and pricing for transportation at Sentry. "Long claims conversations don't benefit anyone. Telematics can help us act promptly to do what's right, support claimants, ensure fleet owners keep moving goods, and keep safe drivers on the road."
TruckerCloud delivers real-time information, alerts, and driving data directly to Sentry from customers who opt in. This early visibility allows claims processing to begin hours—or even days—sooner than traditional methods. Sentry can then reach out and start gathering information needed to resolve claims fairly and efficiently. Beyond crash response, the voluntary program helps:
- Do what's right—faster. Telematics helps Sentry understand what happened, so claims can be handled fairly, swiftly, and efficiently—assisting claimants and reducing litigation risk.
- Settle claims more quickly. Video and sensor data support efficient decision-making and can help avoid costly legal disputes. The American Transportation Research Institute found driver-facing cameras cleared drivers in nearly 50% of cases.
- Foster safer driving. Real-time data supports coaching on safer behaviors—like smoother braking and fewer sharp turns.
- Keep goods moving. Automatic alerts reduce delays, paperwork, and downtime.
- Lower insurance costs. Participants may qualify for up to a 5% premium discount—and may save more over time through safer driving and fewer claims.
Mobilisights and OCTO join forces to turn Stellantis’ connected vehicle data into actionable insights | Mobilisights | Stellantis Media
- Partnership delivers safer, smarter, and more efficient mobility solutions.
- Enables new use cases like crash detection and fleet optimization for insurers and rental companies.
Mobilisights, Stellantis’ Data-as-a-Service (DaaS) subsidiary dedicated to connected vehicle data services, and OCTO, the global leader in telematics, are joining forces to provide fleet managers, insurers, and mobility players with better ways to leverage automotive data.
Mobilisights has unique access to data from 14 automotive brands. OCTO, a pioneer in driving data analysis and the development of telematics solutions for mobility and insurance, has already profiling over 20 million drivers worldwide to improve safety, cost management, and sustainability in their daily journeys.
Through this partnership, telematics data from Stellantis vehicles integrated by Mobilisights can be harnessed and enriched via OCTO’s platform. This will enable a deeper understanding of usage patterns, improved risk prevention, and optimized fleet management.
“At Mobilisights, our mission is to unlock the full potential of connected vehicle data in a secure and privacy-compliant way. Through our collaboration with OCTO, we are enabling innovative use cases such as rent-a-car services that benefit from advanced crash detection and reconstruction. By combining Stellantis’ native vehicle data with OCTO’s expertise in telematics, we help rental companies enhance driver safety, streamline incident management, and deliver greater trust to their customers.’ said Alexandre Didonè, Account Executive, Fleets EMEA, Mobilisights.
InsurTech/M&A/Finance💰/Collaboration
Carpe Data and Harbor AI team up to speed E&S underwriting with AI insights
Carpe Data and Harbor AI struck a partnership designed for one of insurance’s fastest-growing battlegrounds – excess and surplus lines.
Their joint pitch is simple: give underwriters speed, accuracy, and control when dealing with risks that are hard to place.
The collaboration blends Carpe Data’s real-world business signals with Harbor’s AI-powered workflow platform. Operational characteristics, location and index data, and book-level monitoring come from Carpe Data. Harbor AI pipes those signals into underwriting steps where they matter most.
The result: underwriters can segment submissions, price more confidently, and apply targeted exclusions without bouncing between tools.
Renewal monitoring runs at scale, so clean accounts get retained without dragging on resources.
The E&S insurance market passed $80 bn in premiums. Competition is fierce, and being first to quote often decides who wins. Messy submissions slow that down. According to Carpe Data CEO Max Drucker, Harbor.ai’s workflow keeps underwriters in control while layering in evidence-based signals that cut through the noise. Decisions move faster, and they stay consistent.
Paul Gaglioti, CEO of Harbor AI, called the integration a direct lift for underwriters, actuaries, and wholesale partners. Embedding Carpe Data’s signals into the Harbor.ai platform removes the need for endless web searches, surfaces the right accounts, and flags complex risks for review. The goal is clarity in minutes, not days.
Announcements
Kin Launches Home Financing in Florida to Help Homeowners Find Low Rates
Kin, the pioneering, direct-to-consumer, digital home insurance provider, today announces the launch of home financing services in Florida. This marks Kin's first entry into home financing, offering a complete suite of solutions including mortgage loans, home equity loans, home equity lines of credit (HELOCs), and refinancing. The expansion represents a natural evolution of Kin's focus on delivering accessible, affordable financial solutions, helping homeowners make smart decisions not only to protect but also to leverage their most valuable asset.
"We want homeownership to be — and stay — affordable and accessible," said Kin Founder and CEO Sean Harper. "That's why Kin is offering financial services designed to help homeowners secure a better mortgage rate, purchase a new home, tap equity to fund renovations, or pay down high-interest credit card debt. This deepens our relationship with existing Kin insurance customers and introduces Kin to new potential customers. The goal is long-term relationships across multiple services that homeowners want, need, and value."
As a broker, Kin uses its network of lending partners to find Kin-exclusive rates that can cut significant costs over the lifetime of the loan. With hands-on support from a licensed mortgage loan originator, homeowners understand their options and enjoy a simplified journey from application to funding. Customers can feel confident their loan best fits their specific needs and financial goals.
Hippo Holdings' Spinnaker Insurance Company Celebrates 10 Years of Innovation, Profitable Growth, and Service
Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings and a provider of trusted property and casualty solutions for the program-insurance market, is celebrating its 10th anniversary.
As a testament to its strategic vision, the company has built a healthy and diversified risk portfolio. Its broad spectrum of business lines—ranging from renters to general liability insurance—serve more than one million policyholders.
Through the first half of 2025, Spinnaker wrote $510 million in gross written premium, growing 17% year-over-year, and had statutory capital of $223 million. Its strong performance demonstrates a commitment to strategic growth.
Supporting its strong financial position, AM Best has assigned the Spinnaker group of companies a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent).
The carrier delivers these results through exceptional risk and portfolio management, a team of highly talented underwriters, and advanced technology. These elements have enabled Spinnaker to become a trusted force in the industry and a strategic ally to its partners, helping them grow their businesses and quickly bring new solutions to the market.
"As we celebrate Spinnaker's 10-year anniversary, I want to thank our valued partners for trusting us to serve their customers," said Torben Ostergaard, President and CEO of Spinnaker. "That trust enables us to deliver tailored insurance solutions that foster partner growth. Ten years is an important milestone, but our focus remains on the long term—we're building a company designed to stand the test of time by continuously innovating to lead the market."
People
The Mutual Group Appoints Tom Troy as Chief Executive Officer
The Mutual Group, LLC (“The Mutual Group” or the “Company”), a pioneering member-based platform built to help mutual insurers grow, modernize and thrive, today announced Tom Troy as Chief Executive Officer, effective January 5, 2026.
Tom has over 30 years of experience at several major insurance carriers, including senior leadership roles at some of the largest and most well-respected mutual and reciprocal carriers.
Tom is a highly experienced insurance executive with a proven track record of leading organizations through periods of transformation and growth. In this role, he will be responsible for driving The Mutual Group’s strategic vision, expanding its platform and delivering exceptional value to its members.
Tom joins The Mutual Group from USAA, where he served as Chief Transformation Officer and previously from CSAA Insurance Group where he served as Chief Executive Officer and President. Beyond leading strategic initiatives, Tom has developed products, managed distribution channels and implemented tech-forward solutions.
Prior to leading CSAA, Tom was an Executive Vice President at Allstate, where he oversaw a multi-billion dollar portfolio of the insurer’s non-Allstate brands including Esurance, Ivantage, Encompass and business insurance. He also previously served in a variety of Executive Vice President roles at Liberty Mutual and held senior leadership positions with Safeco Insurance.
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