Results
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The carrier had $300mn of favorable development in Q3, mostly led by short-tail lines and ex-workers' comp. -
The carrier reported a “large closeout transaction” that benefited the CoR but created a 0.7-point headwind for the loss ratio.
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Excess casualty rates were up 10% and have been double-digit all year, the executive said.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The conglomerate expects pre-tax losses from Hurricane Milton of between $1.3bn-$1.5bn in Q4.
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The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said.
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The company has grown its premium base by 12% annually over the last five years.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
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Middle market premiums were lower in Q3, but the company is confident growth will resume in Q4.
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Executives noted that US casualty and professional lines development has been close to flat this year.
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The company’s reshaping of the book will be substantially completed by year end.
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