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Elevated cat losses in H1 weren’t enough to stop a further softening of the market. -
The executive joined The Hartford when it acquired Navigators in 2019.
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The late March storm caused extensive damage in southern Quebec and Ontario.
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The soft market continued through H1 2025, especially on shared programs.
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The LA wildfires accounted for 59% of loss activity over Q1.
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Early adopters of AI will see efficiencies – and likely increased market share, Kantar said.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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Much was learned after the fires, but it could take years before that data influences models.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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The platform will capture and standardise data from all submissions, the broker said.
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The ratings agency cited support from parent company MSI for the upgrade.
