Earnings

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

Executives were speaking after the broker reported Q4 earnings, in which organic growth accelerated 2.6 points sequentially but slowed 7.2 points year-on-year to 12.9%.

The firm’s North America operations recorded $116mn of cat losses in Q1 while the international division reported $148mn losses.

The company’s net current accident year weather losses totaled $12.8mn, down from $63.8mn in Q1 2022.

The carrier will continue to push for more auto rates through 2023 as drivers of severity continue to persist.

The firm reported $55.3mn cat losses in Q1, of which $35.1mn were recorded in the standard commercial lines segment and $14.6mn in personal lines.

The company is seeing high single-digit loss cost trends, so the carrier will file for rate ‘even in states where we at target’.

While SiriusPoint CEO Scott Egan said the committee of independent directors will examine any acquisition proposals, he added that there’s “no assurance” any deal will be executed.

The company’s reinsurance structure is “almost entirely renewing at 1 July”, Bixby said.

The carrier attributed its results to strong investment returns.

The regional cohort keeps pace with nationals on pricing, and stays ahead on reserving trends.

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