Insurers

Some carriers may be pressing too hard on reserve releases from recent years.

2024 is likely to be another challenging year for the industry, and commercial in particular, though improvement in personal lines may soften the blow.

The outlooks on IMT Insurance Company and its affiliate, Wadena Insurance Company – both domiciled in West Des Moines, Iowa, and collectively referred to as IMT Insurance Companies – were downgraded to negative.

The bill removes a previous Farm Bill requirement mandating that carriers purchase unlimited catastrophic reinsurance. Instead, companies can purchase “adequate” catastrophic reinsurance.

There’s a “willingness of respect” from reinsurers regarding how the shock of dramatic price increases can put regional and mutual carriers under a lot of pressure, said Greg Moore.

HDI Global has agreed to acquire Indiana Lumbermens, a subsidiary of Pennsylvania Lumbermens Mutual.

Pricing, reserves and uneven catastrophe losses will be the theme this quarter.

Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.

Inside P&C’s news team runs you through the key highlights of the week.

Pricing, catastrophes and rising costs are headwinds for this quarter’s insurer results, but brokers should be buoyed by continued inflation.

Personal lines underperform predictions, while brokers and InsurTechs are a positive surprise (for now).

Inside P&C’s news team runs you through the key highlights of the week.