Chubb
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With the appointment, current division president David Furby will step down from the role. -
This is Chubb’s second MGA deal in the past few months.
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MGAs outpaced the P&C industry for years, but growth has begun to stagnate.
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The CEO said he is “optimistic” about the future of the commercial space.
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The $6.7bn Chubb investment is an outlier in the Berkshire portfolio.
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The conglomerate exited its $620mn position in Markel, which it has held since 2022.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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The CEO said companies are still taking charges on years 2013 to 2019.
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In April, this publication revealed that the carrier is the lead market on the property placement for the bridge.
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There is a high likelihood the property claim will be subrogated.
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The CEO said Q1 was “one of the best quarters” for casualty pricing.
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The Insurance Insider US news team runs you through the earnings results for the day.
