Personal auto
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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.)
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The firm reported quarterly earnings featuring disappointing personal auto loss cost trends.
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The firm is an outlier on the negative side both in its state mix and the speed of its rating actions.
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The change in outlook comes after Kemper reported a $257mn UW loss for Q4, its third straight significant negative underwriting result.
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The merger proposal was supported by at least 95.9% of the votes cast at during a special meeting of stockholders on Tuesday.
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The carrier is seeking to combat a return to pre-pandemic claims frequency and surging claims severity.
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The offering includes auto repair shops, auto body shops, car washes, oil change stations, tire shops and auto parts stores.
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The educator-focused carrier’s underwriting income plunged to $0.3mn from $16mn last year.
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The firm reported encouraging quarterly earnings, but social inflation and other challenges still loom.
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The president of the newly listed car company outlined the MGA’s scope for growth, appetite for M&A, and addressed the question of whether it could go full-stack.
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The latest report shows even higher inflation pushing up severity, forcing carriers to take rate.
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