CNA
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The company’s rate increase in Q4 was 18% for its national accounts property portfolio, clocking in six points higher than Q3. -
CEO Dino Robusto hailed “strong underwriting profitability” and voiced optimism about opportunities in 2023.
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The executive will oversee the insurer’s management liability, financial institutions, and healthcare businesses.
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The executive added that the carrier already has some of its professional liability programs in surplus lines.
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The carrier reported Q3 cat losses of $114mn and an improved loss ratio of 64.6%.
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Hurricane Ian’s total effect is still unknown, but lessons from Hurricane Irma give insight into potential outcomes.
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Before his stint at Axa XL, Bryan Stevenson worked for five years at Old Republic’s construction practice as SVP.
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Chubb pushed its loss trend assumptions higher as it seeks to stay ahead of inflationary pressures.
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CNA Financial CEO Dino Robusto said on an earnings call that right now, the carrier aims to take advantage of current pricing conditions.
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The biggest growth driver was commercial lines, which was up 25% for the second quarter.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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CEO Dino Robusto said P&C earned rate in total was 9%+, up from aggregate loss cost trends of between 5.5% and 6%.
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