Selective
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Selective Insurance's rate increases buck the industry trend of moderation as they continue to rise into Q2. -
The results were driven primarily by higher non-catastrophe property losses and less favorable prior year casualty reserve development.
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March’s CPI report shows elevated inflation levels, including vehicle CPI of 10.5% and average used car price increase of 24.7%.
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Insurance stocks mixed following swath of earnings results; Aon gains nearly 7% in Friday trading.
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Despite decreasing underwriting income, the company’s Q4 2021 performance was above the $1.41 earnings per share that analysts had estimated for the period.
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The latest report shows even higher inflation pushing up severity, forcing carriers to take rate.
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The monthly CPI report shows that inflation continues to push severity higher as carriers take rate in response.
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The board intends to maintain lead independent director and chairperson elect John Marchioni following the meeting.
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Supply chain disruptions are impacting material costs and timelines, but the Biden administration’s legislation promises growth.
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The ratings agency praised the insurer’s strong balance sheet and operating performance as well as its adequate risk management.
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The carrier’s results during the quarter were driven by lower underwriting gains in its commercial lines segment.
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Ida soaks the tri-state – and has the potential to affect personal auto carriers more than comparable storms of the past.
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