Progressive

Growth continued to slow as the company responds to adverse loss-cost trends.

Progressive races for rate, with Allstate slightly slower to account for a recent acquisition and restructuring.

The executive said Progressive was taking steps to address “persistent underperformance” in its property segment and emphasized the need to avoid concentrations of risk in areas with significant catastrophe exposure.

PIF growth is slowing as the firm sees worsening loss-cost trends, and this quick response will likely allow it to outperform peers again.

Trucking companies, having already increased self-insured retentions by millions, will need to contend with further rate increases into 2024.

Inside P&C's Research team looks at the prospects of Florida's wave of new arrivals.

Remi Kent succeeds Jeff Charney who announced his retirement in March.

In a month impacted by hurricane losses, earnings showed slower growth and no improvement in underlying loss ratio.

Progressive expects $510mn of catastrophe losses associated with Hurricane Ida, the company said on Friday.

Ida soaks the tri-state – and has the potential to affect personal auto carriers more than comparable storms of the past.

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

With predicted $20bn in losses, KBW doesn’t see meaningful change to the rate increase trajectory.