Travelers

The carrier benefits from a reduction in claims frequency in auto and general liability.

CEO Alan Schnitzer acknowledges coming reinsurance rate hikes.

Mini-MDLs will be established for some lawsuits brought against Arch, United Specialty and Society Insurance.

The 10E restaurant and bar says it sustained a direct loss from local and state coronavirus shutdown orders.

The tenders, which are subject to reduced SEC disclosure requirements, are a hallmark of the Canadian investor.

Axis Capital and Argo Group shares jumped nearly 5%, while shares in Arch, Travelers and Alleghany were all up more than 3%.

In many ways, Travelers’ Q2 report should have been a “nothing” day.

Rates at Travelers increased by “double digits”, excluding workers comp.

The company warns of growing net investment income pressures.

The claims stemmed from US storms and civil unrest, with pandemic losses broadly offset by reduced claims frequency on the underwriting side of its business.

The firm reported a charge of $86mn associated with Covid-19 and related economic conditions, or 1.2pts on the firm’s combined.

Early reporters eased the tension with strong Q1 operating trends and some optimistic commentary on BI exposures. That said, the level of uncertainty remains high and unchanged by new disclosures.