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Strong pricing and stable loss costs yield solid results for the early reporters, but social inflation could turn the tables during the course of this earnings season. -
Ahead of third quarter earnings, many personal lines insurers are pulling several levers to right-size their operations, including conducting layoffs and reducing exposure.
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The company expects a net loss of between $140mn-$150mn for the quarter and a net operating loss in the range of $25mn-$35mn.
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White Mountains’ final stake could range between 62%-81% of Bamboo, and the Bermudian’s investment in connection with the deal could be around $246mn-$323mn.
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Inside P&C’s news team brings you all the top news from the week.
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Data shows Texas developments parallel some of the trends in other troubled states, but it is heading in from a stronger position.
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From 2020 to 2023, P&C replacement costs increased by 45% on average, whereas inflation for the overall US economy increased 15% within that same period, though the forecast expects that to change.
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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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In 2022, Texas ranked third in incurred losses behind Florida and California, clocking in at $53bn, according to data from the Insurance Council of Texas.
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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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Pricing, reserves and uneven catastrophe losses will be the theme this quarter.
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Farmers’ agents in Florida will be offered an appointment with Slide. Renewals issued by Slide will begin for February 2024 effective dates.
