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Insurers did not see a slowdown in rate but some are still fine-tuning their portfolios following the LA fires. -
Despite being hailed as an asset, executives said the current situation is not ideal for either valuation or competitive purposes.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Auto, umbrella and excess lines recorded mid-double-digit rate increases in Q2.
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Its partnership channel grew three times in new writings year-over-year.
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Rates continue to fall across the state but are firmer in the southeast region.
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Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
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The carrier sees opportunities to grow in New York, the mid-Atlantic and Florida.
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CEO Rick McCathron also said the company is seeking to diversify its portfolio.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The gross loss ratio for the homeowners InsurTech fell by 12 points last quarter.
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The company reduced its proportional quota share program from 55% to 20% cession.
