Chubb
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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.
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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.
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Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.
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The carrier was originally in the market for extra capacity at January 1 before pulling plans.
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Executives have pointed out that it is becoming increasingly difficult to talk about broader trends as micro-cycles are developing for each line.
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Chubb’s Victoria Learned-Fenty stepped down as insurer member following the resignations of agent members Joshua Morey and Ben Rathbun.
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Flows to the E&S market remain strong, executives have said, while dislocation in the property space continues to buoy overall pricing conditions.
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At the same time, insurers are assessing the level needed to address loss cost trends.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Chubb NA property rates climbed 22% in the second quarter, driven by higher cat losses, inflation and reinsurance costs.
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The insurer reported that the NA personal lines reserve release recorded in Q2 was primarily related to its auto portfolio.
