Results
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Andrade flagged expected 5% to 10% increases in the US and Europe. -
The global market is stabilising and softening, and casualty and specialty lines are generally stable, the CEO said.
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The insurer has been focused on growing products with lower cat exposure such as pet and renter’s insurance.
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The broker posted a net loss of $1.67bn including pre-tax non-cash losses.
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Rate deceleration in property cat increased in September, and property pricing overall was down in Q3.
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The stock was hovering around $40 per share just before closing.
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The Insurance Insider US news team runs you through the earnings results for the day.
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In the quarter, the company reported a CoR of 92.3%, up two points YOY.
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Greenberg said London behavior in cat market “is almost aberrant relative to everybody else”.
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The CEO noted, however, that the UK retail market remains a big business growing well.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The carrier booked $250mn of pre-tax losses for Hurricane Helene.
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