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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. -
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.
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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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For July, Progressive’s underlying combined ratio improved 4.7 from last month to 87.9%, driven by significant rate hikes and more selective underwriting and risk selection policies.
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IGI Q2 CoR falls 1.4 pts to 73.5% as higher earned premiums offset increased net losses
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The Inside P&C news team runs you through the earnings results for the day.
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On the surface, InsurTech results were better than the noise from incumbents, but caution is needed to ascertain the quality of new business coming in during a time when even industry leaders stumble.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
