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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
The non-life underwriting profit for the quarter came to $368mn compared with $313mn in the prior-year period.
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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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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The carrier also booked unfavorable prior accident year reserve development of 3.5 points.
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The company’s LR stood flat despite challenging trends in the auto market, which is seeing higher frequency and severity as inflation picks up.
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The company also expects the overall decrease in loss expenses due to the recent Florida legislation to be on the lower end of 25%-40%.
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The carrier reported a Q4 consolidated loss ratio of 39.4%, down one point on the year as claims frequency declined while severity stabilized towards the end of the year.
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Property cat rates went up 50% while aviation, PVT and marine saw rises of around 25%+ during January renewals.
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2022 statutory data is now available, and results show winners and losers
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Hedge fund reinsurer Greenlight Re posted a 57.2% loss ratio for the fourth quarter, marking a 1.6-point improvement from the prior-year period.
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