RLI
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The pace of rate change was “flattening,” with casualty pricing up 6% on average. -
RLI’s all-in combined ratio dropped to 84.8% from 88.4%, midway through Jonathan Michael’s final year at the helm.
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Rate increases in the niche market segment remained in the double digits, but the pace of gains was slower than in prior periods.
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The carrier’s results showed its biggest reserve release on record, and the highest growth in 36 quarters.
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Catastrophe losses climbed higher, totaling $16mn, but underwriting income still grew by 75% to nearly $30mn.
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Branch operations vice president Jill Johnson takes over from Raudins as vice president of personal lines.
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Insurers face the difficult balancing act of signaling optimism to investors as they seek to push rate rises.
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The first week’s reporters present a conundrum around whether or not we will see ROE expansion in 2021.
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The specialty insurer posted a 25th year of consecutive underwriting profit as its core loss ratio fell sharply.
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Big ticket commercial insurance rates rose 22% in Q4 overall, Marsh data shows.
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The specialty insurer produced an operating profit of $34mn in Q4, compared with $28.6mn in Q4 2019.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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