Chubb

Sources fear that the issue will be buried after the coming legislative elections in November.

The protracted firming phase of the cycle continues, with E&S firmer than the admitted market.

Inside P&C’s news team runs you through the key developments from the past week.

The insurer expects to close the transaction during 2022 upon Chinese regulatory approvals.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Price increases within Chubb’s wholesale unit moderated to 14.5% in the fourth quarter, from 16% in the Q3 and 18% in Q4.

Chubb had previously recorded more than $1.4bn in pandemic claims, most in the form of IBNR, and its Q4 claims takedown is the most substantial reserve release to date by a publicly-traded insurer.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

P&C net written premiums rose by just under 10% to a little more than $8.5bn, as CEO Evan Greenberg said the company was still dealing with effects from the pandemic.

Connole will oversee the financial management of Chubb’s commercial P&C, traditional and specialty personal lines, and accident and health insurance businesses in 51 countries outside North America.

Chubb shuffles financial roles, promoting Drew Spitzer to treasurer and Kevin Harkin to CFO for North America insurance.

Commercial lines loss ratios may move slightly higher, while personal auto carriers see the light at the end of the loss-cost tunnel.