Earnings

The executive named cat events and persistent levels of high inflation as two other factors that could “put an unforeseen dent to our loss ratios for the next few quarters”.

Bucking earlier forecasts that predicted a general slowdown in rate increases, some disclosure has pointed to increased momentum.

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The deal also includes a $75mn loss corridor that must be eroded before adverse development passes to the legacy firm.

On August 1, Demotech downgraded UPC's financial stability rating by two notches to M from A.

The Insurtech narrowed its loss ratio despite multiple inflationary pressures in the personal auto sector.

Lemonade said “ballooning costs will remain a topic of concern as long as they persist” while inflation accelerates.

The carrier postponed the IPO of its life and health unit Corebridge due to stock market volatility.

The carrier also reported a pre-tax $21mn loss for the second quarter of 2022, driven by unrealised and realised losses on investments.

The personal lines insurer’s results were also impacted by the states’ regulatory climates and inflationary trends.

The Q2 deterioration in Geico’s underwriting performance was offset by improvements in its other divisions.

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