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Big Insurance after Harvey, Irma—and More

PART:
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Big Insurance after Harvey, Irma—and More PART 1 OF 8

These Insurance Giants Have Seen Declines in Their Total Revenues

Total revenues

For the January 2016–June 2016 period (1H16), Prudential Financial (PRU) generated total revenues of $28.7 billion, while from January 2017 to June 2017 (in 1H17), the company reported total revenues of $27.1 billion—a marginal decline of ~5.8%, primarily due to total realized investment gains, policy charges, and fee income.

These Insurance Giants Have Seen Declines in Their Total Revenues

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In 1H16, Prudential Financial reported total realized investment gains of $3.3 billion, while in 1H17, it reported total realized investment gains of -$0.66 billion. However, in 1H16, Prudential reported policy charges and fee income of ~$2.9 billion, while in 1H17, it reported policy charges and fee income of ~$2.3 billion.

By comparison, in 1H16, American International Group (AIG) reported total revenues of $26.5 billion, while in 1H17, AIG reported total revenues of $25.1 billion—a marginal decline, primarily due to lower premiums received in 1H17 compared with 1H16.

Premiums received

In 1H17, AIG managed to garner premiums totaling $15.3 billion. Other insurance giants (IYF) managed to garner the following premiums in 1H17:

  • Prudential Financial (PRU): $14.8 billion
  • Chubb (CB): $14.2 billion
  • MetLife (MET): $19.2 billion
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