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The Insurance Insider US news team runs you through the earnings results for the day. -
The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
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Subsidiaries of Chubb, AIG, Travelers and The Hartford were all named in the lawsuit.
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A report from the reinsurance broker said fast rate approvals are key to stabilizing the California marketplace.
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The carrier reshaped its portfolio in 2024, cutting costs and investing in Gen AI and LLM technology, CEO Peter Zaffino told staff.
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The NFIP’s strategy is to use "short-term borrowings" to meet what could be $10bn in claims.
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The company, meanwhile, is bullish on E&S US casualty.
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The role at PCS included acting as primary touchpoint for ILS.
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The estimated net effect on Q1 premium revenue is a decrease of $50mn to $60mn, executives said.
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A quick roundup of today’s need-to-know news, including Mercury General’s LA fire loss estimate and more borrowing from FEMA.
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The Nationwide subsidiary is a $750mn-premium wholesale brokerage that serves about 10,000 local agents.
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Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
