Progressive
-
The company incurred $563mn of total cat losses related to the storm. -
It had planned to non-renew 47,000 DP-3 and 53,000 high-risk homeowners’ policies this year.
-
The industry could weather a recession, unless loss costs and reserving pressures worsen.
-
-
Investor skepticism visible in stock prices and short interest data over first half of 2024.
-
The losses added 12.3 points to the firm's 100.4% CoR.
-
Changes in investment strategy and strong results show carriers can weather financial storms.
-
The CoR for homeowners’ insurance rose to 95.4% from 75.8% in February.
-
The homeowners' CoR fell over 32 points sequentially to 75.8%.
-
The carrier also plans to ramp up media spend.
-
Personal auto rates increased 19% during the year.
-
The homeowners’ CoR worsened 39 points sequentially to 107.9%.
Most Recent
-
Aspen Q3 CoR up 2.5 points to 95.2% driven by reinsurance cat losses
November 14, 2024 -
Loeb’s Third Point exits AIG position after nearly two years
November 14, 2024 -
Twia estimates Beryl losses equivalent to cat fund balance at $455mn
November 14, 2024 -
NCCI snags Allianz commercial chief Ryan as new president and CEO
November 14, 2024