Selective
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The carrier’s CoR increased 15.9 points YoY to 116.1% on unfavorable GL development. -
The Insurance Insider US news team runs you through the earnings results for the day.
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The action comes in addition to a $55mn unfavorable development in GL in Q4 2023.
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Commercial carrier earnings continue to show mixed prior-year development.
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The $55mn hit is about 3% of the carrier’s general liability net reserves.
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Markel, Axis and Selective booked sizeable reserve charges in their liability segments.
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Insurance Insider US runs you through the earnings results for the day.
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The company pegged its overall written renewal rate in Q4 at 9% and expects it to be in the range of 20% to 25% in 2024.
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The Inside P&C news team runs you through the earnings results for the day.
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Chief accounting officer Anthony Harnett will step in as interim, while Selective conducts a global search process to identify a new CFO.
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Executives have pointed out that it is becoming increasingly difficult to talk about broader trends as micro-cycles are developing for each line.
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After launching in West Virginia and Maine in early 2024, the New Jersey-based firm will target expansion in the western half of the country.
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