Personal auto
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CEO Marchioni said the overall hit would likely be “in the low single digits”. -
The sale price represents Elephant’s approximate net asset value.
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In operation since 1991, Pearl represents Ocean Harbor and Equity insurance companies.
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Auto and homeowners’ insurance will see effects from the tariffs.
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Customers will keep their agent relationship and policies will not be impacted.
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The investment firm’s holdings were down to $59mn at the end of Q4.
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The state has seen 11 new entrants into the insurance market, reflecting renewed confidence.
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The company received over 10,100 home and auto claims as of January 27.
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Loss-cost indicators are high for liability, low for property.
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Fronting growth fell by half in 2024 due to uncertain loss climate and high cost of capital.
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Rate inadequacy and inflationary pressures represent significant headwinds, however.
Related
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Allstate pegs October cat losses at $226mn post-tax
November 21, 2024 -
Progressive pegs October vehicle losses from Milton, Helene at $206.5mn
November 15, 2024 -
Milton loss expectations narrow as Helene deteriorates
November 05, 2024 -
Allstate pegs Helene cat losses at $630mn pre-tax
October 17, 2024