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The Insurance Insider US news team runs you through the earnings results for the day. -
The reinsurer is ready to deploy additional capacity following the event, but only if prices are commensurate with risk.
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Changes in cat activity and social inflation have impacted carriers focused on the mid- and small commercial market.
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The carrier has been reducing its exposure to the area where the wildfires occurred by over 50%.
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Average revenue per agency acquired was $3.1mn, down 21.2% from 2023.
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The impact of the devastating California wildfires is too early to ascertain, executives said during earnings calls.
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Chubb’s Q4 cat losses more than doubled to $607mn, driven by Hurricane Milton.
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The AIG subsidiary says it has no obligation to “defend or indemnify” McKinsey.
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The figure does not include specie or auto losses.
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The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
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Brown also said California needs a Marshall Plan-like strategy after the wildfires’ devastation.
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Daniela Mills joins after more than eight years at Lockton.
