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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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The Bermudian also raised third-party capital of $402.9mn effective January 1, 2023, including $377.2mn in DaVinci and the remaining in Medici.
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Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.
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The Elliott losses were offset by less severe storms and favorable loss reserve development on previous catastrophe events, primarily ones that occurred in 2022.
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Inside P&C’s news team runs you through the key highlights of the week.
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Axis has reported good results as it heightens its focus on specialty business, but it remains to be seen if it can close the value creation gap.
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Speaking on the company's Q4 conference call, the executive said the market should not assume that WRB will become a heavy cat-exposed writer.
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The CEO also heralded the group’s “best full-year brokerage segment organic performance in decades”, with a figure of 9.7%.
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Operating EPS for the quarter jumped 13.7% from Q4 2021 to $1.16, beating analyst consensus of $1.10 per share.
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Gallagher’s adjusted earnings per share climbed 18.5% to $1.54, beating analysts’ consensus of $1.49 earnings per share in Q4.
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RLI renewed its property per-risk treaty with an estimated 40% risk-adjusted rate increase, and the first dollar retention went up to $2mn.