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Earnings call commentary shows pockets of casualty reserve strengthening for AY 2020-2023. -
The Insurance Insider US news team runs you through the earnings results for the day.
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The executive spent over 15 years at Aon in various M&A-related positions.
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Casualty submissions rose over 70% while property increased over 20% YoY in Q3.
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Rates fell across all premium lines, especially for property and GL.
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The carrier is seeing competition in all areas, including small private business and large public.
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The carrier had $300mn of favorable development in Q3, mostly led by short-tail lines and ex-workers' comp.
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Funding has reached $3.2bn over the first three quarters, 7% less than in 2023.
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Initial expectations for the later storm prove overblown, while inland auto losses mount for the earlier event.
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Nicola Gaisford joined RiverStone from R&Q last year.
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The MGA platform will become part of Ryan Specialty Underwriting Managers.
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Excess casualty rates were up 10% and have been double-digit all year, the executive said.
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