Earnings

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

The company’s Q3 cat losses fell 77% to $170mn, compared to $730mn in the prior year quarter.

The executive said that NA financial lines rates and pricing in aggregate were down 4.8% and 3.8%, respectively, in Q3 as Chubb is trending financial lines loss costs at 4.7%.

Strong pricing and stable loss costs yield solid results for the early reporters, but social inflation could turn the tables during the course of this earnings season.

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.

On the company’s Q3 earnings call, COO Jennifer Klobnak said the E&S property division grew 39%, including via a 42% rate increase.

The Brown & Brown CEO noted that property cat remains "the most challenging" line, while workers' comp decreases have continued to slow.

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

The company also continues to be “very mindful” of medical cost trends, which CEO Berkley noted were shifting very quickly after a benign period.

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

The company expects a net loss of between $140mn-$150mn for the quarter and a net operating loss in the range of $25mn-$35mn.