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The reinsurer is ready to deploy additional capacity following the event, but only if prices are commensurate with risk. -
Changes in cat activity and social inflation have impacted carriers focused on the mid- and small commercial market.
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The carrier has been reducing its exposure to the area where the wildfires occurred by over 50%.
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The impact of the devastating California wildfires is too early to ascertain, executives said during earnings calls.
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Chubb’s Q4 cat losses more than doubled to $607mn, driven by Hurricane Milton.
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Brown also said California needs a Marshall Plan-like strategy after the wildfires’ devastation.
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Submission flows in WR Berkley’s E&S business overall are growing “considerably faster” than its admitted business.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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The insurer’s strong Q4 results might not read across to the rest of its peer group.
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Auto severity continues to be an ongoing challenge for the industry.
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The Insurance Insider US news team runs you through the earnings results for the day.
