Chubb

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

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

The figure was partially offset by $15mn of pre-tax unrealized gains, bringing a total net realized and unrealized loss of $58mn.

Commercial P&C rates, which increased 8.7% and around 10%, respectively, in the North America and international businesses, continued to exceed loss costs.

Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.

Chubb has also received demands from shareholders for more information on its climate-related policies.

Within the 10 sectors the commercial insurer analyzed for the report, Chubb said “the continuing trend toward nuclear verdicts looms large”.

Chubb and Travelers are targeted as “climate laggards” by a shareholder group that wants the insurers to step up monitoring the impact of underwriting and investment activities.

In a related move, Chubb named Jeffrey Updyke head of North America lower middle market.

Sources fear that the issue will be buried after the coming legislative elections in November.

The protracted firming phase of the cycle continues, with E&S firmer than the admitted market.

Inside P&C’s news team runs you through the key developments from the past week.