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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
The carrier grew NWP in Q3 by 8.4% to roughly $11.7bn, as NA commercial P&C lines rose 8.7% to over $5.1bn and personal lines increased 9.6% year-on-year to over $1.5bn.
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On the company’s Q3 earnings call, COO Jennifer Klobnak said the E&S property division grew 39%, including via a 42% rate increase.
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The Brown & Brown CEO noted that property cat remains "the most challenging" line, while workers' comp decreases have continued to slow.
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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 company also continues to be “very mindful” of medical cost trends, which CEO Berkley noted were shifting very quickly after a benign period.
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The Inside P&C news team runs you through the earnings results for the day.
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The company expects a net loss of between $140mn-$150mn for the quarter and a net operating loss in the range of $25mn-$35mn.
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The Inside P&C news team runs you through the earnings results for the day.
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Concern around prior-year loss development and social inflation is impacting the market.
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The executive declined to comment on Truist Insurance sale reports but said the firm is constantly assessing all its options.
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Adjusted earnings per share increased by 33% and the group also reported margin expansion.
