-
Inside P&C’s news team runs you through the key highlights of the week.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Apart from public D&O and workers' comp, the specialty lines insurer is seeing “very strong submission growth”.
-
The Inside P&C news team runs you through the earnings results for the day.
-
After the $1.5bn cat loss, CFO Dan Frey said Q2 was the second largest ever cat amount the insurer has seen for a second quarter with six events over the $100mn mark.
-
Global property cat rates were up 30% during the quarter.
-
Losses stemmed from 19 convective storms across multiple states, with hail damage representing the majority of reported losses, primarily impacting the personal lines segment.
-
The insurer’s personal lines business booked over $1bn of cat losses with a $979mn impact on the homeowners' segment, up from $473mn in Q2 2022.
-
The results represent a return to double-digit expansion following three quarters of single-digit growth.
-
Pricing, catastrophes and rising costs are headwinds for this quarter’s insurer results, but brokers should be buoyed by continued inflation.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The company added that prior and current accident year increases were related to a higher ultimate severity on previously closed claims in its property damage coverages.