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The specialty insurer reported favorable developments in both its insurance and reinsurance segments. -
The carrier has been reducing its presence in the state since 2007.
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The board will lead the review following feedback from shareholders including activist investor Jana.
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The specialty carrier expects to report a 91.6% Q4 CoR and GWP growth of 20.8% to $388.4mn.
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The suit accuses CEO Brian Cornell and other Target executives.
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A majority of losses come from property-oriented businesses and inland marine.
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A quick roundup of today’s need-to-know news, including global rates, wildfire losses and Converge, among others.
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Admitted carriers are dropping middle-market business due to large verdicts.
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The carrier anticipates the impact of the wildfires to drive January cat losses up to $40mn.
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The carrier’s Eaton Fire loss would be a retained net loss hit.
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The underwriter has worked at Axis for a decade.
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The restructuring arrangement is designed to protect creditors.
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