Earnings

The intermediary raised its forecasted range for organic for the full year to 16.5% to 18%.

Zurich NA grew gross written premium by 14% to over $11.3bn as rates jumped 9% in the period.

The specialty line carrier’s combined ratio improved by 2.4 points to 91.8% during the quarter.

The InsurTechs’ results show the path to profitability remains unclear, even as Lemonade said it expects to be self-funding from here.

The company delayed once again the launch of its partnership with State Farm to the first half of next year from Q4.

The firm needs to get a grip in HNW, dial up commercial lines growth, cut through the Corebridge knot and then an acquisition will be next.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Social inflation an increasing concern for the specialty P&C and workers comp carrier as courts resolve pandemic overhang of cases.

The InsurTech will carry its current strategy to prioritize profitability over top line growth through the second half of the year, according to executives during the conference call.

Yesterday, Argo disclosed that it entered into a loss-portfolio transfer agreement with Enstar and will accept an after-tax charge of $100mn in Q3 to secure the cover.

The stock was down $5.91 early trading hours from its close of $32.22 on Monday.

The chief executive said AIG’s next window of opportunity to strike Corebride’s IPO will be in September.