-
The company booked pre-tax net cat losses of $45.7mn, which included $46.1mn of net losses from Winter Storm Elliott.
-
Public D&O and higher excess liability are two areas where the company is “not quite getting” to where it wants to be in terms of rates, co-CEO Carl Lindner said.
-
On an earnings call Markel’s president of insurance Jeremy Noble spoke to analysts, who are watching loss cost trends closely as rate rises taper.
-
Part of the company's plan to improve auto insurance margins is to file for greater rate increases in 2023, along with lowering operating expenses and advertising spend.
-
Chubb’s balanced view of the market as a whole, and pricing and loss cost trends in particular, puts it ahead of the curve on value creation, despite a difficult economic backdrop.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The property and transportation division’s CoR deteriorated 9.5 points to 90% in the fourth quarter, driven by its crop insurance operations.
-
The firm’s insurance LR rose to 60.7% from 49.1%, while the reinsurance LR moved down to 58.7% from 64.1%.
-
The firm recorded a $282mn reserve charge in the quarter, of which $180mn was related to an increase in personal auto claim frequency attributable to prior accident years.
-
The firm’s personal lines segment booked an ex-cat CoR of 98.9% (up from 92.1%), driven primarily by inflation and supply chain delays.
-
The January 1 renewal for 2023 was “one of the most profound” the company has ever had, the CEO said.
-
The CEO also told analysts there is currently no M&A on the table for Chubb.