Travelers

Catastrophe losses of $850mn were primarily the result of “numerous” severe wind and hail storms in multiple states, the company said.

Allstate’s underperformance in results and value creation may be an opportunity for activist investor Trian, but history suggests it will have its work cut out.

The survey found that a majority of Canadian businesses consider cyber threats their top concern and also believe they will eventually fall victim to a cyberattack.

According to a source familiar with the matter, policyholders will see four changes coming – some nationwide and others specific to certain states.

At the same time, insurers are assessing the level needed to address loss cost trends.

Q2 cat losses reported by most carriers were significantly higher than a year ago owing to the number of US convective storms and likely higher carrier retentions at reinsurance renewals.

Progressive has now reported three consecutive months of adverse development. The Inside P&C Research team takes a closer look.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

After the $1.5bn cat loss, CFO Dan Frey said Q2 was the second largest ever cat amount the insurer has seen for a second quarter with six events over the $100mn mark.

The insurer also added $100mn to its northeast cat treaty as it posted $1.48bn of cat losses in the second quarter.

The insurer’s personal lines business booked over $1bn of cat losses with a $979mn impact on the homeowners' segment, up from $473mn in Q2 2022.