Earnings

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

The conglomerate said its cat losses for the first quarter this year were driven by exposure to the recent earthquake in Turkey.

Personal auto rates increased 9% in the first quarter, and Intact remains confident it can maintain a sub-95% CoR for the segment in the foreseeable future.

The quarterly performance was driven by the global retail market unit which reported $892mn in catastrophe losses during the quarter.

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

The UK&I segment’s combined ratio improved to 94.6% from 104% in Q4 as it focused on more profitable business in personal lines and sought rate increases for commercial lines.

Skyward’s surety book grew over 50% in Q1 after the company invested in a new surety platform with industry analytics.

Two of the verdicts were around $15mn and two were between $40mn and $45mn.

To seize the market opportunity, the company plans to raise non-convertible debt with closure expected in Q2 2023.

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

HCI was modelling a decrease in claim frequency of about 15% to 20% and in litigation frequency of about 3%.

The specialist’s ex-cat LR improved 2.4 points to 61.1% benefitted by the continued run-off of exited lines and the shift in the mix of business.