Chubb

The executive said that NA financial lines rates and pricing in aggregate were down 4.8% and 3.8%, respectively, in Q3 as Chubb is trending financial lines loss costs at 4.7%.

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

The carrier grew NWP in Q3 by 8.4% to roughly $11.7bn, as NA commercial P&C lines rose 8.7% to over $5.1bn and personal lines increased 9.6% year-on-year to over $1.5bn.

The executive said he was “shocked and heartbroken” in a message circulated to Chubb staff.

According to a Chubb survey, 59% of respondents said inflation has impacted their ability to replace covered assets under existing coverage; 76% said they are considering increasing coverage amounts to compensate for inflation.

The consortium is supported by 11 other Lloyd’s businesses.

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

Differing trends in short- and long-tail lines offset each other to create a net positive for the industry, though the releases are slowing significantly.

Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.

The carrier was originally in the market for extra capacity at January 1 before pulling plans.

Executives have pointed out that it is becoming increasingly difficult to talk about broader trends as micro-cycles are developing for each line.

Chubb’s Victoria Learned-Fenty stepped down as insurer member following the resignations of agent members Joshua Morey and Ben Rathbun.