Earnings

Need to Know

The deterioration was driven by increased cost inflation in property and physical damage claims, which began to accelerate in the second half of 2021 and continued through 2022.

The executive didn’t provide a target for the number of investments it expects to keep, but said SiriusPoint will not be an active acquirer in the near term.

The carrier reported a Q4 combined ratio of 101.4%, an improvement of 30 points year-on-year, driven by a 27-point reduction in its loss ratio.

Inside P&C’s news team runs you through the key highlights of the week.

The company posted its first net investment gain in a year, driven by $45.5mn of gains in its bonds portfolio and $26.4mn from short-term investments.

The carrier reported 76.3% for its loss ratio for the quarter, which resulted from a lower current accident-year net loss ratio and lower adverse prior-year reserve development.

Lemonade will lean more into growing its renter's book in 2023 than it has in the past while it waits to see the rate impacts in other books.

CFO Rob Bateman said that loss ratio improvements and adjustments around cost structure will work to bring the cash burn down.

The improvement was driven by higher earned premium and lower employee-related costs, as well as more favorable cat-loss development.

The AIG 200 project has officially ended, with the goals met ahead of schedule and under-budget, but there is still work to do to close the gap with competitors.

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