The Hartford
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The insurer made the payment on April 20, according to SEC filings reviewed by Inside P&C.
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The carrier booked $185mn in catastrophe losses from winter storms, as well as tornado, wind and hail events across several regions of the US, in line with its preliminary disclosure.
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Travelers posts strong results boosted by better pricing, personal lines performance, and favorable development.
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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 Connecticut-based insurer said $138mn in cat losses stemmed from its commercial lines segment, while $47mn came from personal lines.
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The payment followed a $200mn disbursement that Chubb made in Q3. The insurer expects to cover the remaining $500mn of the liability in 2023.
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The company increased its attachment point on the $200mn aggregate cover to $750mn, up from $700mn.
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Net losses from Winter Storm Elliott included $151mn in commercial lines and $16mn in personal lines.
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The firm’s flattening rates and favorable reserve development provide a read-through for commercial insurers.
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Inside P&C Research examines E&S sector growth over the past year and revisits historic trends.
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