Most read stories for the week include an article on the U.S. House of Representatives eliminating the Consumer Financial Protection Bureau's 2013 guidance on indirect auto lending and improvement in GEICO's first-quarter loss ratio.
House votes to scrap CFPB's guidance on discrimination in indirect auto lending
On May 8, the U.S. House of Representatives voted 234-175 to kill the agency's bulletin warning of discrimination in auto loan programs where dealers offer loans with the help of third-party banks.
US homeowners' combined ratio deteriorated in 2017, hit highest level since 2011
After a slew of natural disasters, including devastating hurricanes and wildfires, the U.S. homeowners insurance industry in 2017 recorded its highest combined ratio in the last six years.
Life insurer sees asset-backed security investments as an area of focus
U.S. insurance companies expanded their holdings of assets classified as other loan-backed securities in 2017, and if recent disclosures from Athene Holding Ltd. are indicative of a broader trend, further growth may be ahead in 2018.
Ailing nonstandard auto group sees better days ahead
A series of transactions boosted the capitalization of certain members of the group of nonstandard auto insurers that operate under the Good2Go brand, which faced financial challenges with roots in unfavorable reserve development.
Reserve adjustment helps GEICO to significant loss ratio improvement in Q1
GEICO Corp.'s rate of premium growth slowed in the first quarter from the torrid pace it set through 2017, but improvement in underwriting profitability likely serves as the most significant takeaway from its latest financial results.