Progressive
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Selective’s CEO earlier attributed Q3 adverse development to the NJ market. -
Cat losses in Q3 were light as peak hurricane season passes without incident.
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Early Q3 earnings reports point to worsening market conditions.
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The selloff may hint at headwinds for equity investors.
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The insurer booked a $950mn policyholder credit expense in September.
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Cat losses in August were below historical trends, but we are not in the clear just yet.
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Cat losses in July were below historical trends, but all eyes are on peak hurricane season.
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Full-stack carriers fail to outclass incumbents with no clear platform differentiation.
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The company also purchased $15mn of SCS parametric coverage.
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The research team presents the June cat heatmap.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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January cat losses continue to run higher than prior years, with no help from latest wildfires.
