-
The implemented price hikes added $307mn in new premium last month, driving the year-to-date rates implementation to $2.9bn. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Commercial property and auto jumped 11.2% and 7.6%, respectively, while cyber rose 20.3%.
-
Secondary perils – which have traditionally been high-frequency, low-severity events – accounted for 70% of all insured losses in 2022.
-
Though still significantly elevated, the CPI appears to have peaked in the short term, which may give carriers a chance to catch up on rate.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Medical inflation – a key input to long-tail loss costs – increased 5.4% year on year but declined 0.5% from September to October.
-
The broker expects HNW property rates to go up 8%-12% and auto excess liability rates to rise 15%-20% in Q4 2022 and Q1 2023.
-
The slow deceleration of rate increases expected earlier this year now seems unlikely, as carriers face larger losses.
-
Progressive’s superior digital distribution and widening auto margins put it far ahead of the competition.
-
Private equity is cautious around even the hard market opportunity in cat.
-
Axis’ pivot away from property reinsurance comes just as the sector reaches one of the biggest inflection points.
Most Recent
