The Hartford
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The carrier is also targeting E&S growth in property brokerage and global specialty.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Carriers expressed confidence on the line’s ability to withstand medical inflation.
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Commercial carrier earnings continue to show mixed prior-year development.
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Commercial property pricing rose 11%, while personal auto grew 21.9%.
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Insurance Insider US runs you through the earnings results for the day.
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The insurer said it will continue to renew existing homeowners’ business.
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The commercial lines market is generally rational and disciplined, the CEO told analysts at the Goldman Sachs 2023 US Financial Services Conference.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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In tandem, the carrier announced that Stephanie Bush, who leads small commercial and personal lines, will retire after more than three decades with the company.
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The Hartford is "starting a conversation” about complex risks and possible solutions with its Risk Monitor Report 2023, the executive said.
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Broker and commercial carrier trends separate as inflation slows but rates stay elevated.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The carrier’s Spectrum property business grew 13%, general property in the middle market segment was up 13% as well, and large property grew 16%.
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AJ Gallagher posts 10.5% Q3 organic growth, lower sequentially but up year-on-year
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Secondary perils are adding uncertainty, while modelling is still relatively unsophisticated.
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The carrier’s E&S property book is “up 29%, with 25 points of rate”, said the executive.
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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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Flows to the E&S market remain strong, executives have said, while dislocation in the property space continues to buoy overall pricing conditions.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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At the same time, insurers are assessing the level needed to address loss cost trends.
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The carrier is set to achieve 20% rate increases in auto this year, with the same rate increase likely to be needed in 2024 to achieve its 2025 targets.
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The Inside P&C news team runs you through the earnings results for the day.
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The move is a promotion for Hamilton, who served for five years as regional vice president of Southern California.