Earnings

The executive pointed out that the company is looking at sufficient compensation and geographic concentration as two factors in its participation in the property cat market.

The two specialty insurers reported strong Q3 2022 earnings, continuing to outperform the commercial industry in underwriting gains and value creation.

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The underwriting results benefited from an improvement of 1.3 points on the expense ratio to 23.5%, offsetting a one-point gain in the loss ratio to 69.6% on the year.

The firm’s contingent commissions were negatively impacted by $15mn while the captives division estimates $11.5mn of Ian-related losses.

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Q3’s consolidated organic growth number marked the lowest organic expansion for the company since the last quarter of 2020, when it reported a 4.7% figure.

CEO Rob Berkley said the company would likely participate in the space for one to three years if rates remain favorable.

The weakened combined ratio was driven by an increase in the company's loss ratio.

As the super-cycle slows and the economic landscape becomes more uncertain, brokers will face pressure, though a cooling labor market may aid margins.

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

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