Commercial auto has generated underwriting losses for 14 straight years. The U.S. commercial auto insurance line continues to burden the overall property and casualty (P/C) industry, accounting for more than $10 billion in net underwriting losses over the past two years, according to a new AM Best report. The Best’s Market Segment Report, Stuck in […]
US Personal Auto Insurance Segment Sustains Underwriting Turnaround Into 2025
First half direct loss ratio improved over 2024 even as average claim is up more than 10% from 2024. U.S. personal auto insurers saw the segment’s first-half 2025 direct loss ratio fall again from the same two previous six-month periods, indicating that the significant rebound experienced in 2024 may carry over through 2025, according to […]
Copart Reports 22.9% Jump in Net Income on Higher Revenue
Copart Inc. (NASDAQ: CPRT) reported a 22.9% increase in net income during its fiscal fourth-quarter ended July 31as the auto salvage auction company benefited from higher revenue, as total loss frequency has increased, and improved margins. The company said net income attributable to Copart rose to $396 million, or 41 cents per share, for the […]
Strong US Property/Casualty Insurance Underwriting Profitability in First Half of 2025 to Continue
Fitch Ratings reports private passenger auto direct loss ratio down 6.3 points, tariffs could impact severity in second half of year. The U.S. Property Casualty (P/C) insurance industry reported very strong results for in the first half of 2025 (1H25), with a statutory combined ratio of 96.4%, down 1.2 percentage points year over year (YoY) […]
Progressive Reports Personal Auto Policies in Force Set New Record in July
Auto policies were up by over 19% from July 2024. The Progressive Corporation (NYSE: PGR) reported its total personal auto insurance policies in force were 25,902,000 in July, an increase of 3,893,700 or 17.7% from 22,008,300 in July 2024. The July total personal auto policies in force set another new record for the company, continuing […]
Boyd Group Reports Second Quarter Sales Up Year over Year
Collision repair chain surpasses 1,000 locations while margins improve despite declining same-store sales. Boyd Group Services Inc. (TSE: BYD) reported sales of $780.4 million for the second quarter ended June 30, up 0.2% from $779.2 million in the same period last year. Same-store sales declined 2.1%, offset by $21.0 million in revenue from new location […]
CCC Reports 12% Revenue Growth in Second Quarter
CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) posted second-quarter revenue of $260.5 million, a 12% increase from the prior year, as several major insurance customers moved beyond pilot programs to broader deployments of the company’s AI-powered solutions. The Chicago-based software provider also reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $108.1 million, […]
GEICO Reports $11.1 Billion Premiums Written in Second Quarter
Premiums written up 5.2% in Q2, 5.9% for first half. Loss ratio improves despite increased claim severity. Berkshire Hathaway reported its second quarter 2025 earnings on Saturday, August 2, providing details on its GEICO subsidiary—the third-largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings reached $1.821 billion in the second quarter of […]
Axalta Reports $1.3 Billion in Second Quarter Sales
Adjusted EBITDA sets new quarterly record. Axalta Coating Systems Ltd. (NYSE: AXTA) reported net sales of $1.3 billion for the quarter ended June 30, down 3% year-over-year, primarily due to volume declines in its Performance Coatings segment that more than offset contributions from the CoverFlexx acquisition and favorable currency translation. Net income decreased by 3% […]
PPG Reports Q2 Sales of $4.2 Billion
Company maintains full-year guidance despite 1% revenue decline during quarter. North American refinish organic sales flat. PPG Industries Inc. (NYSE: PPG) reported second-quarter net sales of $4.2 billion, down 1% from the prior year, as strong performance in performance coatings was offset by weakness in architectural markets and the impact of business divestitures. The Pittsburgh-based […]
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