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Pricing, reserves and uneven catastrophe losses will be the theme this quarter.
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These figures mark an improvement from August, which was impacted by losses from Hurricane Idalia.
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Program management arm Accredited, which is in advanced sale discussions, posted profits of $28.6mn.
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Nearly half of the cat losses incurred during the month of August were attributable to Idalia.
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The ratings agency said there had been no capital inflows through new company formations.
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AIG has been course-correcting since 2008, but recent efforts including AIG 200 seem to have finally set it in the right direction.
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The executive said that (re)insurers would need to produce stable and consistent returns before a capital influx.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Underwriting income more than doubled to $77.5mn from $32mn as the company grew its top line largely through its specialty segment, reduced reinsurance exposure and lowered catastrophe and large losses.
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Insurance's GWP decline was driven by a couple of programs that were underperforming, while reinsurance's deceleration was driven by a deliberate slowdown in the mortgage book.
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Net income increased to $219mn over the period, up from $48mn in the same period last year, while underwriting income increased by 33% to $208mn.