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Workers' compensation rates fell again on a year-over-year basis. -
Commercial liability and commercial property continue to dominate.
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The top three states averaged a 14% YoY gain, compared to June’s 3.3%.
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As property momentum slows, personal lines excess and surplus could start outperforming.
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In messaging to the market, the cyber insurer described the rating environment as “stable and sustainable”.
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The broker said achieving profitability “remains challenging” for insurers.
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The ratings agency said Sixth Street provides flexibility through long-dated capital.
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Q2 was the ninth consecutive quarter of year-over-year price decreases.
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The contraction so far this year is in line with the executive’s expectations.
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On the contrary, GL rate changes decelerated sequentially to 4.9% from 5.9%.
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Executives flagged elevated packaged auto loss activity in Q2.
