Public vs. Mutual Insurers and New Succession Strategies
Who is more likely to run a profitable personal lines business: a publicly traded insurer that answers to its shareholders, or a mutual insurer that's owned by policyholders? That's what we set out to determine, analyzing annual statutory filings from 2021 to 2023. The results might surprise you.
C-suite departures at top P&C carriers — public and mutual — have opened up lanes of opportunity for lower-level executives as companies seek to break the traditional mold of succession in which one C-suiter replaces another. Today, a division president might just be the CEO-in-waiting.
The effects of Hurricane Helene on insurance companies are beginning to emerge. The storm was cited in recent financial updates from Progressive and Allstate. So far, not so good. And then there's Hurricane Milton.
You might think getting kicked out of the securities industry would be the last chapter of a broker's story. But an investigation by reporters at P&C Specialist and our sister publications Life Annuity Specialist and Financial Advisor IQ shows that's just not the case. The team of journalists uncovered close to 350 examples of brokers barred by the Financial Industry Regulatory Authority who still have licenses to sell insurance in states across the country.
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