Travelers
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The newcomers are finding it more difficult to disrupt the sector than they had expected. -
Employment data indicates that easy growth and margin expansion may slow soon.
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The ransomware surge is likely to lead to changes in the product, a shake-up in market share and challenges for MGAs.
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The broker’s panel includes Chubb, Hiscox, Liberty, Markel, and Travelers.
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While the pandemic offered some relief to commercial auto insurers, maintaining margins will be tricky to achieve given rate moderation.
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Social Inflation could rebound faster than expected and disrupt the industry's narrative on margin expansion.
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Kunkel, who has led Travelers’ surety and management liability business since 2005 will retire in September.
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CEO Alan Schnitzer said the transaction gave the business “a window into a successful management team” and addressed its underweight position in E&S.
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The insurer’s better-than-assumed cat loss in Q2 followed on from it burning through 48% of its aggregate cat reinsurance deductible in Q1.
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The company blew past analyst earnings estimates, benefitting from lower cats and higher reserve releases, though underlying margins weakened.
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The buy-in from the blue-chip US insurer is a coup for the expansive London market and Bermuda (re)insurer.
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Following strong year-to-date performance, P&C stocks were down in June after a change of tone in a Fed meeting.
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