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The carrier reshaped its portfolio in 2024, cutting costs and investing in Gen AI and LLM technology, CEO Peter Zaffino told staff. -
The NFIP’s strategy is to use "short-term borrowings" to meet what could be $10bn in claims.
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The company, meanwhile, is bullish on E&S US casualty.
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The role at PCS included acting as primary touchpoint for ILS.
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The estimated net effect on Q1 premium revenue is a decrease of $50mn to $60mn, executives said.
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A quick roundup of today’s need-to-know news, including Mercury General’s LA fire loss estimate and more borrowing from FEMA.
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The Nationwide subsidiary is a $750mn-premium wholesale brokerage that serves about 10,000 local agents.
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The spillover impact from the LA wildfires will play a major role in how much reinsurance capacity will be available.
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Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
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This year's modelled outputs have increased across all return periods.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The decision allows a $4bn settlement, threatened by insurer claims, to proceed.
