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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
In the quarter, Markel reported gross written premiums of $3.4bn, marking a 21% increase on a year-over-year basis.
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Commercial P&C rates, which increased 8.7% and around 10%, respectively, in the North America and international businesses, continued to exceed loss costs.
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Brown & Brown CFO R Andy Watts has emphasized to Wall Street analysts that the mid-market broker is “not out of the M&A market”.
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The executive said the company is willing to “allow exposure growth be the priority over rate, though not across the board”.
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Brown & Brown’s first-quarter earnings rose by 10% to $0.77 per share, roughly in line with analyst expectations.
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WRB's loss ratio decreased 1.8 points to 59.5% and the expense ratio improved 1.2 points to 28.1%.
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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 news team runs you through the key developments from the week.
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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 executive added that the specialty carrier purchased roughly $100mn more reinsurance in its catastrophe tower for both hurricane and earthquake exposure.
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Guy Carpenter CEO Dean Klisura outlined challenges for reinsurance buyers, due to the war’s impact, on a Marsh McLennan investor call.
