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The company also announced the appointment of Prudential’s Billy Greer to its board of directors -
Argo’s Q4 2021 loss ratio jumped to 87.1% from 69.8% a year ago, despite cat losses dropping to $6.8mn from over $50mn in Q4 2020.
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Specialty insurer ProAssurance returned to profit during 4Q 2021, as the company’s combined ratio improved to 96.5% from 105.8% a year prior.
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The insurer’s Q4 loss ratio decreased to 72.2% from 74.9% and its expense ratio declined to 24.8% from 30.9% a year earlier.
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The firm posted positive quarterly earnings – is this the beginning of a trend?
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Kinsale Capital Group posted a combined ratio of 75.5% and an expense ratio of 21.4% for Q4 2021.
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The segment reported cat losses of $305mn, or 7.7% of NEP.
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Doma’s topline grew in Q4 2021 by 17% to $138mn while adjusted EBITDA fell to negative $36mn from negative $3mn in Q4 2020.
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The carrier’s loss ratio deteriorated to 69.7% from 62.7%, driven by increasing personal and commercial auto losses.
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With no catastrophe losses, premium growth and favorable development lifted Kinsale operating income to $1.76 per share, well ahead of Street expectations.
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GWP rose 15% to $142mn, reflecting growth in new policies written. The company earned $156.4mn in net premiums, an increase of 3% year on year.
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Excluding the effects of cats and reserve developments, AIG’s core loss ratio also improved, decreasing to 59.2% from 60.3%.
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