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The event now includes a casualty portion and has officially been re-branded as the Property and Casualty Symposium. -
Guy Carp CEO Dean Klisura said LA wildfires could slow rate reductions at 1 April.
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The carrier’s year-end kitchen sink action is a make-or-break moment for a troubled franchise.
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The impact of the devastating California wildfires is too early to ascertain, executives said during earnings calls.
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The figure does not include specie or auto losses.
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The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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The carrier also has a $500mn excess $2.4bn aggregate protection.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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The industry loss number has increased threefold from an initial $5bn pick.
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Losses from the larger fire will amount to $20bn-$25bn, the modeler said.
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Disclosures show the insurer has roughly 4,300 homeowners’ policies in effect in fire-impacted zip codes.
