The Hartford
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The Connecticut-based insurer said $138mn in cat losses stemmed from its commercial lines segment, while $47mn came from personal lines.
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The payment followed a $200mn disbursement that Chubb made in Q3. The insurer expects to cover the remaining $500mn of the liability in 2023.
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The company increased its attachment point on the $200mn aggregate cover to $750mn, up from $700mn.
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Net losses from Winter Storm Elliott included $151mn in commercial lines and $16mn in personal lines.
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The firm’s flattening rates and favorable reserve development provide a read-through for commercial insurers.
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Inside P&C Research examines E&S sector growth over the past year and revisits historic trends.
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Inside P&C’s news team runs you through the key highlights of the week.
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The company aims to become a larger player in the E&S market and small commercial.
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The executive has more than 15 years of specialty casualty underwriting experience, previously having worked at Aspen, QBE NA, Zurich NA and Chartis.
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The executive will oversee all middle and large commercial business units serving multiple industries including construction and large property.
