Old Republic
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The Chicago-based company grew NPW by 4%, helped by 24% growth in its financial indemnity business, which wrote over $100mn in net premiums in the quarter. -
Trucking companies, having already increased self-insured retentions by millions, will need to contend with further rate increases into 2024.
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The company said rates in commercial auto offset modestly negative comp rates, with D&O and aviation easing up but still firm.
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The Chicago-based specialty carrier also generated its best growth print in recent memory, expanding the top line by 13%.
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While the pandemic offered some relief to commercial auto insurers, maintaining margins will be tricky to achieve given rate moderation.
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