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Loss costs trends continue to increase in both physical damage and bodily injury coverages for nearly all of Progressive’s commercial auto products, CEO Tricia Griffith wrote in a quarterly update. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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As the market hardens, Kemper plans to “open the filters and see what comes through” as another quarter of rate earns in, CEO Joseph Lacher told analysts on Monday.
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The Inside P&C news team runs you through the earnings results for the day.
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CNA continued to push for rate in lines of business affected by social inflation in Q3, as CEO Dino Robusto said the carrier was “pleased that there is an increasing awareness for this need in the marketplace”.
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The carrier reported better investment returns, improvements in underlying P&C performance and lower cat losses.
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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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“The loss ratio has certainly been under pressure with inflation and increased cat activity, but we're confident in where it's headed and seeing a lot of opportunity out there,” Spray told analysts on Friday.
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On a conference call with analysts, CEO Michael Kehoe described high growth rates from over the last five years as an “anomaly” and warned investors of possible "mean reversion” ahead.
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The loss was well within the company’s net retention. Losses from other weather events during the quarter added up to another $10mn-$15mn.
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The carrier’s Spectrum property business grew 13%, general property in the middle market segment was up 13% as well, and large property grew 16%.
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The broker’s share price fell by around 4% after the announcement of its Q3 results and extended restructuring program.
