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The US-focused specialty insurer dropped its core loss ratio by almost two points as it delivered its best underlying underwriting result since 2016. -
Dino Robusto says the carrier continues to review data affected by the attack and to determine what notifications it must make, if any.
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The Iowa-headquartered group says that losses from the event exceed its $20mn reinsurance retention.
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The carrier improved its underlying combined ratio by 1.8 points as higher earned premiums helped the company lower its expense ratio.
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Aon’s Friday release concluded the first-quarter broker earnings season on a high note with the record-breaking profit and highest brokerage organic growth since 2003.
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Premiums within the primary insurance group surged by 19% to $2.9bn.
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Kemper Insurance reported a 46% year-on-year dip in operating profits for the first quarter of 2021, as natural catastrophe claims weighed on the company’s results.
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The broker’s performance was driven by a growth acceleration in commercial risk solutions.
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All of its insurance businesses produced underwriting profits, as Allied World and Odyssey grew GWP by 28% and 24%, respectively.
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The insurer reported strong premium growth and average rate rises of 6.1% in its core commercial business.
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Gallagher's brokerage business grew by 6%, while the company also said it closed 5 acquisitions in the quarter with $90mn in estimated annualized revenues.
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Parent company BGC Partners said the broking business saw strong growth across all lines.
