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The Inside P&C news team runs you through the earnings results for the day. -
AIG grew GI NWP in NA by 17% to nearly $4bn as both commercial lines and personal lines NWP rose 17% to over $3.4bn and $563mn, respectively.
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Personal auto loss severity rose about 12% year-over-year. The carrier also experienced a “modest” year-over-year increase in frequency of about 1%.
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Flows to the E&S market remain strong, executives have said, while dislocation in the property space continues to buoy overall pricing conditions.
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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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This resulted in a rate decline of 1% in the company’s specialty business, compared to a 7% increase in the prior-year period.
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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.
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CinFin lead the outperformers, while Aon and The Hartford's shares dropped sharply.
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Overall, the executive said the company feels “really good and bullish” about the personal lines business for both its HNW and middle market books.
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The executive said that the company reduced its consolidated retention and ceded premium ratio for its 2023 and 2024 treaty program.
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“The broad E&S market is quite attractive today, and we’ve got a good level of confidence going forward,” CEO Michael Kehoe said.
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