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The company has grown its premium base by 12% annually over the last five years. -
The Insurance Insider US news team runs you through the earnings results for the day.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
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Middle market premiums were lower in Q3, but the company is confident growth will resume in Q4.
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Executives noted that US casualty and professional lines development has been close to flat this year.
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The company’s reshaping of the book will be substantially completed by year end.
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The insurer has been focused on growing products with lower cat exposure such as pet and renter’s insurance.
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The broker posted a net loss of $1.67bn including pre-tax non-cash losses.
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Rate deceleration in property cat increased in September, and property pricing overall was down in Q3.
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The Insurance Insider US news team runs you through the earnings results for the day.
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In the quarter, the company reported a CoR of 92.3%, up two points YOY.
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Greenberg said London behavior in cat market “is almost aberrant relative to everybody else”.
