The Hanover
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The insurer said its cat estimate is driven by $165mn of losses related to Winter Storm Elliott. -
Jon Martin will succeed Schuler as management liability VP and Greggory Ketay will become distribution VP.
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The regionals continue to find success in small and middle market business, as their pivot to a commercial focus has benefitted them.
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For its personal auto book the firm anticipates rate renewals of 7% in Q4, up from 4.1% in Q3, and double-digit hikes in 2023.
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The personal lines unit reported a combined ratio of 107.3%, marking a 3.5-point deterioration from the 103.8% CoR reported in the prior-year quarter.
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The insurer took $28mn in net Hurricane Ian losses and warned inflationary pressures surpassed expectations in general in Q3.
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With pricing decelerating and loss-cost trends potentially reversing, regionals should continue to execute on their present strategy.
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The firm’s specialty pivot seems to be paying off in premium growth and value creation.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Despite strong performance in commercial and specialty, THG raised its full-year combined ratio guidance by one point, citing inflationary pressure on personal lines.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The loss ratio in the personal lines unit increased by 7.1 points year on year, as property and auto lines faced higher severity.
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