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The net cat loss ratio dropped to 0.4% from 1.8% in September, but the consolidated loss ratio deteriorated 2.4 points to 75.5% during the same period. -
The Insurance Insider US Research team walks buyers through valuation considerations for InsurTech MGAs, as capital constraints point to further consolidation.
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Slowing loss cost trends may signal relief ahead, but only if carriers remain vigilant on rate action until we are past the peak.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The E&S personal lines insurer also named Malcolm Tsung as commercial lines product management VP and Scott Crozier for a similar role in the personal lines division.
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This month marks a reversal in the pace of inflation for the segment, after auto insurance prices moderated to 18.9% in September from 19.1% in August.
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The company is now open to accepting homes up to 75 years old, and future effective date requirements have been reduced to one day.
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Insurers have paid out $673.3mn in claims through September 30 for residential losses related to the August fires.
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Kemper’s current results and historical trends suggest continued difficulty and remains a TBD story.
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Susan Arnold, co-vice chair of NAIC’s P&C Insurance Committee, also urged passage of legislation exempting mitigation grants from taxation.
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Three states — California, New Jersey, New York — were responsible for adding five points to YTD combined ratio for 2023.
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The company pegged its overall written renewal rate in Q4 at 9% and expects it to be in the range of 20% to 25% in 2024.
