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Rates fell across all premium lines, especially for property and GL. -
The carrier reported total cat losses of $48.9mn during Q1-Q3 2024, versus $20.2mn in 2023.
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Initial expectations for the later storm prove overblown, while inland auto losses mount for the earlier event.
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Excess casualty rates were up 10% and have been double-digit all year, the executive said.
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The average for October was roughly half of that for September.
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The firm will provide an update on November 22 to avoid holiday season.
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Private companies aren’t prepared to supplant NOAA’s gold standard of data collection.
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The broker said the casualty segment is approaching an “inflexion point”.
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Republican tariffs and higher Democratic corporate taxes would hurt the sector.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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Middle market premiums were lower in Q3, but the company is confident growth will resume in Q4.
