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Travelers News
Travelers news from Insurance Insider
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.
The percentage of cases that could lead to higher losses increased in 2023.
Shares rose to over $213 at one point – from their previous close of $198.35 – after this morning’s Q4 results, which included an 8.7 point combined ratio (CoR) improvement driven by a rebound in personal lines.
Competitor news
Competitor news
Competitor news
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Wildfire risk destabilized the state’s market, spurring regulator attention. -
The carrier has seen two other exits from its US tax team this year.
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Sources said Berkshire will move from the largest single capacity provider to a single-digit percentage line size.
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Podcasts
Behind the Headlines Podcast
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Insuring the transition is frequently touted as a major growth opportunity, but when it comes to renewable energy, complications abound. Natural catastrophe, evolving technology, and data scarcity all add to the complexity of underwriting in the class. GCube's Fraser McLachlan has been operating in the renewables sector over several market cycles, and gives his insight on the latest dynamics in the class.
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What is the purpose of the Underwriting Room in the post-Covid working world? According to Lloyd's Market Association CEO Sheila Cameron, the Room remains the "beating heart" of the London insurance ecosystem, and there is "overwhelming support" to maintain it. In her role at the LMA, Sheila has a unique insight into what is top of the agenda for all 55 managing agents. Tune in to the podcast to get the latest on Blueprint Two, the state of regulation, and leadership diversity.
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Listen in as Aegis London CEO Alex Powell discusses how to underwrite profitably through the cycle, the carrier’s growth in the cyber market, and the company’s future strategy.
From our other titles
From our other titles
From our other titles
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.
From Insurance Insider ILS
Hilti leads management buyout of Credit Suisse ILS from UBS
The sale is expected to be completed by the end of the year.
From Insurance Insider
Rouse appointed Kentro CEO as co-founder Thompson steps down
Stuart Rouse, Kentro’s CFO, will step into the role of group CEO with immediate effect.
Insurance Insider provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.
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