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Additional buybacks are more feasible if P&C stocks slip and pricing moderates.
Much was learned after the fires, but it could take years before that data influences models.
Catastrophe losses in Q1 exceeded $50bn, the second highest on record.
Inflation indices fell in April, but some items related to P&C are still elevated.
Growth and returns on equity fall, but most of the industry is still profitable.
P&C held up better than the S&P 500, but there are causes for longer term concern.
Imported goods account for 30%-50%+ of materials used for HNW homes, versus 15%-25% in standard houses.
The larger awards over the past two years could serve as an anchor for future verdicts.
Cat losses last month were lighter than historical trends, but all eyes are on Q1 figures.
What insurers can learn from the history that led to this deal.
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