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Travelers News
Travelers news from Insurance Insider
‘Emotionally driven’ claims by non-profits underscore their unique D&O exposures, according to Travelers' Nicole Murphy.
The company’s stock price has plummeted in the wake of the LA wildfires.
A quick roundup of our best journalism for the week.
Newcomers enter on the belief that they have a “better mousetrap”, said Donato Monaco.
Asbestos claims for exposed insurers could place more pressure on workers’ comp reserves.
Umbrella and commercial auto led Q3 rate hikes with double-digit increases.
The firm reported $547mn from Hurricane Helene losses.
Top concerns also included medical cost inflation and employee benefit costs.
Civil case, nuclear verdict and claims count data show worrying trends.
The figure represents a quarterly increase of 102%.
Travelers now holds around 6.2% of Fidelis, down from over 7.2%.
The industry could weather a recession, unless loss costs and reserving pressures worsen.
The report also noted that 35% of injuries occurred during an employee’s first year.
Travelers and Selective’s releases point to ongoing reserving challenges this earnings season.
A quick round-up of today’s need-to-know news, including the Microsoft outage and Travelers' results.
The carrier purchased an additional $150mn of cover.
The firm strengthened GL reserves by $250mn, for AY 2021-2023.
The carrier’s underlying combined ratio improved 3.4 points year on year to 87.7%.
Changes in investment strategy and strong results show carriers can weather financial storms.
Downward trends of DCC ratios are beginning to reverse, which could cause issues for long-tailed lines.
Corrective actions revealed by Travelers in the first-quarter earnings could set the stage for similar moves from peers
The insurer is currently transitioning Corvus' ‘profitable’ $200mn book of business.
Underlying improvement was driven by a decrease in the personal lines core CoR.
SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.
Commercial carrier earnings continue to show mixed prior-year development.
Competitor news
Competitor news
Competitor news
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The deterioration was driven by increased cost inflation in property and physical damage claims, which began to accelerate in the second half of 2021 and continued through 2022. -
The improvement was driven by higher earned premium and lower employee-related costs, as well as more favorable cat-loss development.
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The MGU will help the carrier build its stop loss medical insurance portfolio.
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From our other titles
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From Insurance Insider US
Mercury reveals $1.24bn second event cover as LA claims mount
The carrier can claim separately for the Palisades and Eaton fires if necessary.
From Insurance Insider US
Evacuations ordered as major wildfires rage in Los Angeles
More than 4,000 acres are burning as thousands evacuate.
From Insurance Insider US
Talent Tracker: Finpro and property had the most movement in 2024
Both the US and UK had busy summers, but the talent momentum in the US did not continue into Q4.
From Insurance Insider
Enstar to be taken private by shareholder Sixth Street in $5.1bn deal
The deal values the business just under its closing price on Friday, at 0.97x book value.
From Insurance Insider
Aspen promotes Dunleavy to president and Pickering to group CFO
The new leadership structure is designed to create more accountable executive roles responsive to Aspen’s strategy.
From Insurance Insider ILS
Chubb adds $1.7bn US cat top layer to treaty
The insurer also pushed up its retention by $650mn.
Insurance Insider provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.
Insurance Insider ILS provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.