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The model becomes the second in the state to get approval to affect ratemaking applications. -
Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
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The pace of increases ticked down in the second quarter compared to Q1.
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The company adjusts its rate options to expand California business under the new cat model.
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Casualty rates increased 4% globally but shot up 9% in the US.
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Renewal rates fell, despite elevated catastrophe losses.
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The company also encouraged insurers and brokers to support the initiative.
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All lines except workers’ comp are up year over year, however.
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Rate gains are easing across many commercial and personal lines.
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June’s increase was up from May’s 0.2%.
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Renewable energy premium written in London and international markets amounts to $2bn.
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Demand and growth opportunities remain ample despite competitive pressures.
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