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The contraction so far this year is in line with the executive’s expectations. -
The CEO noted that the tort reforms have not led to rate pressure yet.
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President Eric Andersen said that non-malicious cyber risk was “front of mind” for clients.
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Organic growth was in line with WTW and Marsh McLennan, which both posted 6% underlying expansion.
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CFO Doug Howell said the company has invested around $700mn in M&A this year.
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The Insurance Insider US news team runs you through the earnings results for the day.
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CRB NA growth was driven by specialty lines, including natural resources, construction and real estate.
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Rising medical inflation, less favorable frequency trends and difficulty in getting rate are challenging the line.
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The broker raised the low end of its 2024 target ranges for adjusted operating margin and adjusted EPS.
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The Insurance Insider US news team runs you through the earnings results for the day.
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NA casualty pricing was up 11.7%, with rates increasing 9.9% and exposure up 1.6%.
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Loss cost inflation remains an unknown and is sustaining price discipline.
