Earnings

The broker’s revenue rebound was offset by reductions of business in Colombia and Ecuador.

P&C carriers in the region are navigating economic headwinds and market volatility while the economy has not fully recovered from the Covid-19’s aftermath.

The broker said EPS estimates for 2023 were broadly flat due to inflation fears.

The combined ratio improvement was driven by an increase in net premiums earned, favorable development of net loss reserves from prior accident years and current devaluation.

Allstate CFO Mario Rizzo vowed to continue pushing through auto rate increases.

The Brazilian reinsurer suffered large losses from weather-hit crop producers.

PE appetite for retail broking platform’s remains high, with positive read-across for Relation’s process.

Third-party reinsurance capital was predicted to hit $95bn in 2022.

Odyssey Group’s cyber chief Robert O’Connell is looking to raise up to $1bn of capital for a monoline cyber reinsurer.

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

The executive added that the second quarter saw a larger movement of business into E&S due to the challenging reinsurance renewal cycle for the admitted market.

The company attributed its Q2 performance to rate adequacy improvements and a 10% favorable loss reserve development on attritional losses from prior periods.