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The year-to-date CoR was down 9.5 points to 102.8% compared to 2023. -
Heritage’s Q3 combined ratio improved 10.2 points to 100.6% driven by lower losses and expenses.
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The Floridian also announced the completion of its first-ever takeout from Florida Citizens.
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Executives were speaking after the company’s Q3 CoR rose 5.6 points to 103.9%, driven by 22 points of cat losses.
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Earnings call commentary shows pockets of casualty reserve strengthening for AY 2020-2023.
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The Insurance Insider US news team runs you through the earnings results for the day.
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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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The company has grown its premium base by 12% annually over the last five years.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
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Middle market premiums were lower in Q3, but the company is confident growth will resume in Q4.
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Executives noted that US casualty and professional lines development has been close to flat this year.
