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The funding round valued the company at around $850mn. -
Excess/umbrella liability and commercial auto broke the trend with high price increases, however.
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Workers' comp continued to offset GL adverse development, but the bucket is running dry.
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Approximately 12% to 13% of Skyward’s premium was in commercial auto in Q4.
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Technology is key to streamlining the value chain and mitigating loss ratios.
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Cyber premiums dropped 1.8%, while commercial auto was up 8.9%.
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January CPI/PPI heats up but won’t translate to higher loss costs.
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Carriers that started earlier in correcting their books and catching up with loss trend may be reaping rewards.
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The company’s combined ratio rose 6.5 points from 2023.
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The executive joins after 20 years with Lexington.
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Loss-cost indicators are high for liability, low for property.
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The suit seeks compensatory and punitive damages from 180 defendants.
