Personal auto

The Insurance Insider US Research team walks buyers through valuation considerations for InsurTech MGAs, as capital constraints point to further consolidation.

Slowing loss cost trends may signal relief ahead, but only if carriers remain vigilant on rate action until we are past the peak.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

This month marks a reversal in the pace of inflation for the segment, after auto insurance prices moderated to 18.9% in September from 19.1% in August.

Kemper’s current results and historical trends suggest continued difficulty and remains a TBD story.

Three states — California, New Jersey, New York — were responsible for adding five points to YTD combined ratio for 2023.

The company also plans to ramp up its media spend in 2024 after having significantly slashed advertising budgets earlier this year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Loss costs trends continue to increase in both physical damage and bodily injury coverages for nearly all of Progressive’s commercial auto products, CEO Tricia Griffith wrote in a quarterly update.

The cuts amount to roughly 2% of the insurer’s US workforce.

Ahead of third quarter earnings, many personal lines insurers are pulling several levers to right-size their operations, including conducting layoffs and reducing exposure.

The company expects a net loss of between $140mn-$150mn for the quarter and a net operating loss in the range of $25mn-$35mn.