Travelers

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The firm reported better than anticipated earnings factoring in Ian, but a slowing economy could cloud the outlook.

Executives said that current estimates for Hurricane Ian losses are favorable relative to Travelers' corresponding market share.

The firm booked a Q3 reserve charge at its business insurance unit driven by $212mn asbestos-related losses.

A challenging legal atmosphere and drift in loss cost components add difficulty to the task of tallying ultimate losses.

Cyber threats were the top overall concern for business decision-makers (59%) ahead of broad economic uncertainty (57%) and fluctuations in oil and energy costs (56%).

Claims analysis shows slow reactions to negative trends can affect several quarters, but carriers who emerge strong will be able to pursue growth faster than the competitors who are always playing catchup on loss cost trends.

The executive rejoined Travelers excess casualty unit over two years ago after almost four years at Aon, where he was account executive.

Chubb pushed its loss trend assumptions higher as it seeks to stay ahead of inflationary pressures.

The insurer’s results are in line with other carriers, but they are ahead of the curve on adjusting loss costs.

Commercial insurers surprised with continued positive results despite economic conditions.