Personal auto
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The fundraising includes $80mn of convertible preferred equity, which closed on June 23rd, as well as $25mn of long-term debt financing for Hagerty Re. -
Used car and truck prices declined 4.2% year on year in May, while new vehicle prices rose 4.7% in the period.
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This marked the third month-on-month drop in 2023.
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Recently released statutory data shows the US P&C industry loss ratio touching the 65% mark, the highest level in two decades.
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The loss for the month was 60% comprising losses from two wind and hail events.
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Inside P&C’s news team runs you through the key highlights of the week.
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April auto insurance premium data showed the second highest YoY change in more than 20 years.
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InsurTech carriers pivot to profitability vs growth.
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All eight major market segments had seasonally adjusted prices that were lower year over year in April.
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Inside P&C’s news team runs you through the key highlights of the week.
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Industry reserve releases mask adverse development trends, particularly in personal lines.
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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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