It was clear to us by early March that 2020 would likely be a “prove-it” year for the remaining Bermuda independents, and suddenly these companies have much more to prove.
The carrier’s April results displayed multiple moving pieces from the Covid-19 crisis, including lower loss ratios in personal and commercial auto, but also a higher expense ratio and lower growth.
Yesterday marked the start of the first significant activist campaign targeting a public insurance company in 2020, following a tipping point last year with the ouster of Argo CEO Mark Watson by Voce.
The “empty-street” economy has left auto-exposed names in a relatively favorable position – so much so that they have been returning premiums to clients.
New data from Aon on D&O pricing in Q1 shows continued acceleration of rate increases.That said, we still see the true story as more balanced, with excess pricing changes distorting headline figures.
