CNA

Before his stint at Axa XL, Bryan Stevenson worked for five years at Old Republic’s construction practice as SVP.

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

CNA Financial CEO Dino Robusto said on an earnings call that right now, the carrier aims to take advantage of current pricing conditions.

The biggest growth driver was commercial lines, which was up 25% for the second quarter.

Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.

CEO Dino Robusto said P&C earned rate in total was 9%+, up from aggregate loss cost trends of between 5.5% and 6%.

The executive is responsible for business including financial lines, healthcare, surety and warranty.

The insurer reported total P&C rate increases of 8% for the third straight quarter, down from the 13% gains in last year’s fourth quarter.

Improved expense and loss ratios helped to cut the combined ratio.

Commercial lines loss ratios may move slightly higher, while personal auto carriers see the light at the end of the loss-cost tunnel.

Larry Haefner has been serving as CNA’s interim CFO since September, after the carrier said in August its former permanent CFO Al Miralles would leave the company for a position in the technology sector.

CEO Dino Robusto predicts favorable market conditions into 2022.