Personal auto
-
For domestic automobile, renewal premium change was 6.3%, up a full three points from the first quarter of 2022 and the carrier expects the increases to continue.
-
The company also said it expects a $408mn reserve charge, including $275mn related to personal auto and $91mn recorded for commercial auto.
-
The cost of a new car gained 6% last month.
-
Tesla Insurance debuted against a backdrop of regulatory hurdles and EV market competitors.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Used car prices are on a general decline this year but the impact on personal auto insurers is yet to be seen.
-
Aon said supply chain disruptions are easing, shipping costs are receding and building materials and vehicle pricing are decelerating.
-
Tesla’s entry into the insurance market presents the firm with both opportunities and risks.
-
The companies have received approval from the Department of Justice under the Hart-Scott-Rodino Act and are awaiting other required regulatory approvals.
-
Although P&C insurers had 9% premium growth, the underwriting loss in 2021 follows a $4.4bn underwriting gain in 2020.
-
The medical care index increased 0.4% month over month (in line with April's increase) and 4% versus May 2021.
-
The firm’s emphasis on charitable giving has enabled a differentiated narrative, but the $4mn given is dwarfed by $345mn of insider selling.
Related
-
Nonstandard auto squeezes out small profit in H1 2024: AM Best
December 09, 2024 -
Allstate pegs October cat losses at $226mn post-tax
November 21, 2024 -
Progressive pegs October vehicle losses from Milton, Helene at $206.5mn
November 15, 2024