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NA casualty pricing was up 11.7%, with rates increasing 9.9% and exposure up 1.6%.
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Loss cost inflation remains an unknown and is sustaining price discipline.
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Overseas GI cat losses rose to $157mn from $26mn while NA commercial cats were $252mn vs $231mn.
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Executives flagged elevated packaged auto loss activity in Q2.
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Property rates are under pressure, with some accounts seeing rate decreases.
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For many, it could be a “wake-up call” to the systematic exposures inherent in cyber.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Travelers and Selective’s releases point to ongoing reserving challenges this earnings season.
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The carrier’s CoR increased 15.9 points YoY to 116.1% on unfavorable GL development.
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The carrier purchased an additional $150mn of cover.
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The firm strengthened GL reserves by $250mn, for AY 2021-2023.
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The carrier’s underlying combined ratio improved 3.4 points year on year to 87.7%.