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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening. -
Fronting doesn’t look any better when it’s broken down by segment.
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It is understood around $1bn of premiums could be ceded to the proposed vehicle.
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The broker will now have access to an M&A war chest for inorganic growth.
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The WCB has denied the allegations, claiming its decisions were based on “reasonable investigations”.
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The deal values the Onex-backed P&C broker at over $7bn.
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Persistent social inflation challenges evident across key long-tail lines at half-year mark.
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All rates were up on a year-over-year basis, except for workers’ compensation.
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High H1 reserve releases of $7.4bn were driven by the largest of carriers.
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The other liability loss ratio continued to rise as workers’ comp and commercial auto reversed course.
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Equidad earlier sold its soccer team to group of US investors that includes actor Ryan Reynolds.
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GL and workers’ comp, however, may benefit from a more competitive environment.
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