Travelers
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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.
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The firm strengthened GL reserves by $250mn, for AY 2021-2023.
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The carrier’s underlying combined ratio improved 3.4 points year on year to 87.7%.
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Changes in investment strategy and strong results show carriers can weather financial storms.
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Downward trends of DCC ratios are beginning to reverse, which could cause issues for long-tailed lines.
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Corrective actions revealed by Travelers in the first-quarter earnings could set the stage for similar moves from peers
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The insurer is currently transitioning Corvus' ‘profitable’ $200mn book of business.
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Underlying improvement was driven by a decrease in the personal lines core CoR.
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SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.
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Commercial carrier earnings continue to show mixed prior-year development.
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The percentage of cases that could lead to higher losses increased in 2023.
