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“Aggressive limit management” has been deployed across the insurer’s book. -
Paul Rivett said social inflation, interest rates and tightening capacity at Lloyd’s had heightened pressure on underwriters.
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The two Florida-based insurers have continued to suffer increased losses from prior year events such as Hurricanes Irma and Michael.
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The CEO added that he was pleased with the progress of Tranzact following the July acquisition.
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Expansion slows within the reinsurance segment, while group earnings marginally exceed the consensus expectation.
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O'Donnell said the market is “missing the point” about the dangers of climate change.
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The company is among just a few carriers looking to write more business, CEO Marc Grandisson claims.
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The executive was talking to analysts during a call to discuss Markel’s third-quarter 2019 results.
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The CEO says pricing on London wholesale lines was up 17 percent in the quarter.
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The carrier expects a $42mn prior-year reserve charge in Q3.
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This came as Markel said it would commit up to $100mn to new retro fund manager Lodgepine.
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Axis reported a Q3 operating loss, while Argo anticipates a $42mn reserve charge in the period.
