-
CinFin management said premium adjustments for rising costs of building materials are about to double from last year.
-
Meanwhile, Tricia Griffith said the commercial lines business experienced minimal impact from Ian, as physical damage and comprehensive cover are smaller parts of its premium.
-
Axis’ pivot away from property reinsurance comes just as the sector reaches one of the biggest inflection points.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The firm’s commercial lines CoR climbed over 18 points to 99% while the personal lines unit’s CoR deteriorated 1.8 points to 104.5%.
-
The executive added that the carrier already has some of its professional liability programs in surplus lines.
-
The carrier reported Q3 cat losses of $114mn and an improved loss ratio of 64.6%.
-
The chief executive said his company has clearly communicated to underwriters the need to expand or maintain margins while “prudently growing” the book of business.
-
The CEO’s comments follow yesterday’s Q3 earnings report, in which the carrier’s GWP grew 24% year-on-year, accelerating for the third consecutive quarter.
-
CEO Mike Kehoe said the company’s commercial property book outperformed expectations related to the storm.
-
The executive added that while the Florida market has seen benefits from recent legislation, the major issue remaining is one-way attorney fees.
-
CEO Greg Case said dislocation in the reinsurance market created “tremendous opportunities” for the firm.