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Analysis of 2022 statutory data shows top US-exposed reinsurers grew assumed premiums 13% year-on-year in 2022.
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The cyber MGA reported that claims severity increased by 7% to an average loss of nearly $169,000, fueled by business email compromise and other types of attacks.
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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 highlights of 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 Boston-based cyber MGA also reported premium growth of 80% last year compared with 2021.
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Morgan Stanley served as exclusive financial adviser to Neptune. Howden Tiger Capital Markets & Advisory acted as financial adviser to Bregal Sagemount and FTV.
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Hippo’s gross loss ratio remained unchanged at 76% and its net loss ratio rose 23 points to 273% as the InsurTech was hit by catastrophic events in Q1, mainly in California.
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InsurTech carriers pivot to profitability vs growth.
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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 highlights of the week.
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The company is seeing high single-digit loss cost trends, so the carrier will file for rate ‘even in states where we at target’.