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The carrier has not added new business in the state since 2007. -
Insurance stocks are lukewarm amid earnings season, cats and political changes.
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A new UK CEO for the trade credit insurer will be announced at a later date.
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The carrier disclosed it will book $1.1bn in net losses from the California fires.
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The insurer acknowledged additional claims in 2025 would be “reasonably possible”.
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The specialty insurer reported favorable developments in both its insurance and reinsurance segments.
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The carrier has been reducing its presence in the state since 2007.
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The board will lead the review following feedback from shareholders including activist investor Jana.
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The specialty carrier expects to report a 91.6% Q4 CoR and GWP growth of 20.8% to $388.4mn.
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The suit accuses CEO Brian Cornell and other Target executives.
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A majority of losses come from property-oriented businesses and inland marine.
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A quick roundup of today’s need-to-know news, including global rates, wildfire losses and Converge, among others.
