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Total catastrophe losses stemmed from 20 events and were estimated at $587mn. -
The industry posted another strong quarter, but casualty reserves remain problematic.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Rand said the company remains “very bullish on the long-term value that NORCAL brings.”
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Subsidiaries Core and Typtap have applied to participate in the November Citizens policies assumption.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Hippo shares were up 20%, while Root’s shares dropped over 20%.
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Albo cited rate increases, improved terms and conditions and line size management among cedants.
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GWP declined to $11.1bn from $11.3bn in the US and to $484mn from $527mn in the rest of the region.
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Year to date, casualty rates, excluding shared economy, are up roughly 10%, the executive said.
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The InsurTech’s cat weather loss ratio improved by 83%
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The CEO said he expects cyber rates to start flattening post-loss.
