Earnings

The segment will now be a non-core part of the business and will no longer be reflected in future reporting, Lacher told analysts on the carrier’s Q2 earnings call on Monday.

The Inside P&C news team runs you through the earnings results for the day.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Geico’s CoR fell 10.3 points to 94.7%, fueled by higher average premiums per auto policy, a reduction in advertising costs and favorable reserve development.

The COO noted that despite being able to get rate in excess of inflation, particularly social inflation, the carrier is watching casualty lines “very closely”.

The company has already seen submissions from MGAs that are potentially looking for a new fronting partner.

The legacy carrier reported unrealised losses of more than $345mn for 2022, up from $78mn the year prior.

The executive said he was prepared to accept volatility rather than passing margin to reinsurers.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The company has yet to see the standard market meaningfully impact rate or flow in the aggregate.

The Inside P&C news team runs you through the earnings results for the day.

These changes include increasing all payroll deductibles to specific minimum levels by coverage A limit, adding wind and hail deductibles in multiple states and transitioning to an ACV schedule for roofs as the standard offering.