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If Hurricane Andrew were to hit the coastal regions of Florida today, insured losses would be nearly four times the $15.5bn borne by carriers 30 years ago. -
The Manheim Used Vehicle Value Index declined to 211.6, up 8.8% from a year ago but showing a gradual decline after reaching a January peak of 236.3, except for an increase in May.
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Odyssey Group’s cyber chief Robert O’Connell is looking to raise up to $1bn of capital for a monoline cyber reinsurer.
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The executive believes the company will be able to achieve profitability without raising additional capital.
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The InsurTechs’ results show the path to profitability remains unclear, even as Lemonade said it expects to be self-funding from here.
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The company delayed once again the launch of its partnership with State Farm to the first half of next year from Q4.
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At the time of publication, only a small number of carriers remain to be affirmed, including People's Trust and Cypress P&C.
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The motor vehicle insurance index rose 7.4% year on year that month, from 6.0% in June, while the annual gain in all-items CPI dropped to 8.5% from 9.1%.
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The firm needs to get a grip in HNW, dial up commercial lines growth, cut through the Corebridge knot and then an acquisition will be next.
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The company sees and opportunity to grow market share in the state.
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The personal lines insurer’s results were also impacted by the states’ regulatory climates and inflationary trends.
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This is the second monthly decline after May and a sign of continued moderation after the index reached a peak in January.
