The Hartford
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The executive noted that the carrier is constantly evaluating its participation in other lines besides construction, including financial lines or environmental. -
The Hartford has reduced the share of workers’ comp in its portfolio by nearly 16 points over the last five years.
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The executive has spent more than 11 years at the company and oversaw the integration of Navigators.
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The Hartford has appointed Edmund Reese to its board of directors, effective October 17.
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Chubb pushed its loss trend assumptions higher as it seeks to stay ahead of inflationary pressures.
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The insurer’s Q2 combined ratio narrowly worsened, as improvements in commercial were outweighed by personal lines challenges.
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The insurer’s personal lines CoR jumped 14.8 points to 101.8% while the commercial lines unit’s CoR improved 1.6 points to 87.3% in Q2.
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The sector was hit by a rough first half of 2022, with more to come in the second half of the year.
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Excessive litigation costs and continued losses threaten the Sunshine state’s market.
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Based in Washington, DC, the executive reports to Gretchen Thompson, head of inland marine, excess solutions and complex liability.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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Matthew Kirk will join the carrier’s insurance executive leadership team and report to Grahame Millwater, president of global insurance.
