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In addition, the insurer completed the $240mn sale of its agribusiness unit Crop Risk Services to American Financial Group (AFG). -
Rates continue to rise through June, with the homeowners’ weighted average rate change coming in at 8% for the month, while auto rates increased by a significant 11.3%.
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The legacy carrier reported significant unrealised investment losses.
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Inside P&C’s news team runs you through the key highlights of the week.
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The broker’s latest report finds stability but continued price discipline in most lines and regions.
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The broker used three major cyber models to analyse the drivers of model variability, with revenue coming top as the most prominent driver of loss variability.
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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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Before joining AIG, the executive had served as chief underwriting officer of marine at The Hartford.
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The industry’s ROE is expected to reach 8% in 2023 and 9.5% in 2024, up from 2.5% in 2022.
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In addition to his new role, the executive will retain his current position as head of marine for the Australasia region.
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Despite reinsurers’ concerns over social inflation and loss trends, capacity remains abundant in both quota share and XoL deals, sources say.
