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The primary and reinsurance unit CoRs were 103.1% and 98.7%, respectively. -
Insurers haven’t announced concrete steps – yet.
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The Canadian conglomerate’s total cat losses in Q1 reached $781mn, including $692.1mn from the fires.
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The standard market has not ‘meaningfully’ impacted the rate of flow in the aggregate.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Planning for the carrier was halted in January due to the CEO’s health issues.
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The impact could also raise home-building costs by $10,000 per unit.
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The company is also pursuing “deconcentration” to lower SCS exposure.
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But automotive repair costs are likely to increase faster than home repair.
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The LA fires and spring storms drove CinFin's CoR up 19.7 points to 113.3%.
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The LA wildfires, however, will be the firm’s largest event to date.
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The executive was most recently at Oliver Wyman after joining from AIG last year.
