Old Republic says commercial auto pricing is ‘nearing’ rate adequacy
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

Old Republic says commercial auto pricing is ‘nearing’ rate adequacy

James Thaler
January 28, 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Old Republic with Craig Smiddy Chicago.jpg

Old Republic CEO Craig Smiddy told analysts on Thursday that the company’s recent reserve releases in the commercial auto line of business should be viewed as a sign of a return to health for the segment, and that after years of significant rate increases in response to accelerating loss trends, the insurer’s commercial auto portfolio is closing in on rate adequacy.

The executive was discussing fourth quarter and full-year results, in which the underwriting income in Old Republic’s general insurance unit soared 79% to $109mn, thanks in large part to the roughly $61mn in reserves released, mostly tied to the...

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Request a free trial Already a subscriber? Log in now

Topics

NewsResultsOld RepublicCommercial autoEarnings
JT
James Thaler
Gift this article