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Asbestos claims for exposed insurers could place more pressure on workers’ comp reserves.
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Umbrella and commercial auto led Q3 rate hikes with double-digit increases.
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Prior to the event, clients were expecting a “very competitive market environment”.
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CEO John Doyle said global property rates were down 2% versus flat in Q2.
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The firm reported $547mn from Hurricane Helene losses.
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Organic growth fell by 1 point quarter on quarter and was down by 5 points from Q3 2023.
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The company incurred $563mn of total cat losses related to the storm.
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Arch announced the retirement of CEO Marc Grandisson on Monday, with immediate effect.
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While Republicans are typically perceived as best for business, there are several factors at play.
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Increased antitrust activity and the NFIP’s dissolution would present new challenges for the industry.
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In all, primary insurance renewal premiums have risen 6% so far in Q3.
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Increasing loss picks in difficult lines suggest top writers are accepting shifting loss trends.