Personal auto

Personal auto carriers risk falling behind in the battle between loss costs and approved rate declines, while homeowners carriers’ double-digit filings might not be enough to keep up.

While November’s decline was only slightly less than October’s, the move lower was on Manheim's radar, given the typical seasonal downward trend that paused in August and September.

Reciprocals have been cropping up more recently, with a shift toward cat-exposed lines, giving investors a quick way to tap into the hard market with an expectation of a rich multiple at exit.

The ratings agency cites ongoing deterioration in results for personal auto and homeowners’ lines, along with rising loss costs, driven by inflationary pressures.

The Insurance Insider US Research team walks buyers through valuation considerations for InsurTech MGAs, as capital constraints point to further consolidation.

Slowing loss cost trends may signal relief ahead, but only if carriers remain vigilant on rate action until we are past the peak.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

This month marks a reversal in the pace of inflation for the segment, after auto insurance prices moderated to 18.9% in September from 19.1% in August.

Kemper’s current results and historical trends suggest continued difficulty and remains a TBD story.

Three states — California, New Jersey, New York — were responsible for adding five points to YTD combined ratio for 2023.

The company also plans to ramp up its media spend in 2024 after having significantly slashed advertising budgets earlier this year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.