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The broker said inflation should positively impact its ability to navigate another recession. -
Following the $1.4bn sale of C&F’s pet business, the firm says it will buy back shares and will not go after “significant” M&A deals in the P&C industry.
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The broker reported organic expansion slightly below rivals Marsh McLennan and AJ Gallagher.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The company suggested a higher outlook than June, saying the rate environment in Q2 was looking better than the previous quarter.
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The company's global insurers and reinsurers segment combined ratio improved 1.3 points to 94% in the second quarter.
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The workers’ compensation specialist saw premium growth in both its traditional and digital lines.
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The insurer’s personal lines CoR jumped 14.8 points to 101.8% while the commercial lines unit’s CoR improved 1.6 points to 87.3% in Q2.
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The company recorded a 10.8% increase in organic revenues at its brokerage division, climbing from 9.6% in Q1, and well up on 6.8% in the prior-year quarter.
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Rising prices drove Q2 losses and expenses higher, pressuring both commercial and personal lines, CinFin executives say.
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The 2.8-point decline in the division’s loss ratio outweighed a 1.3-point increase in the expense ratio.
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Arch Capital CEO Marc Grandisson told analysts on an investor call today that the industry has started incorporating higher inflation into models.
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