Earnings

Rising claims and expenses drive costs higher, pushing Erie Indemnity Q3 operating income down 1.2%.

The Cedar Rapids-based company says Hurricane Ida was a full-retention reinsurance loss, at least its second in two years after it took an $88mn gross loss from last year’s Midwest derecho.

Expanding franchises and new technology help Goosehead expand third-quarter core revenue, as premiums jump by 44%.

Kinsale Capital Group reported a leap in Q3 net operating income, boosted by rate increases, lower catastrophe costs and favorable development.

Aon is the latest of the major brokers to report rising growth levels this quarter.

Positive earnings results point to the firm meeting full-year guidance, but will it hit the 500 points improvement in margin by 2024?

CEO G. Janelle Frost said rising wages and employment signaled inflationary pressures in workers compensation as the US economy rebounded.

Renewal pricing in Q3 continued to be ahead of the company’s estimate for prospective loss cost trends for each P&C segment, CinFin CEO Steve Johnston said.

Kemper’s specialty P&C loss ratio spikes, driven by legal developments and increased severity in personal injury protection coverage in Florida.

The segment fell to a $17mn underwriting loss, despite higher earned premiums and an improved underlying loss ratio.

Brokerage margins contracted slightly, as the savings achieved during economic lockdowns reversed.

The CEO also detailed the carrier’s efforts to capitalize on surging primary casualty rates through proportional treaty business.