The Hartford
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In response, the carrier has completed over 50 auto filings with an average rate increase of 6.2% in recent months.
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The company's core earnings per share rose to $1.66 from $0.56 a year earlier, beating the $1.54 forecast by analysts.
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Based in Boston, the executive will report to Michael Garrison, head of Navigators wholesale.
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Keith Mather will be responsible for building a book of international retail and wholesale financial lines business, as well as the long-term growth of global specialty.
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The Hartford’s customers will have access to Swiss Re’s globally standardised property wordings and online platform.
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The protracted firming phase of the cycle continues, with E&S firmer than the admitted market.
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Insurance stocks mixed following swath of earnings results; Aon gains nearly 7% in Friday trading.
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The deal with National Indemnity provided up to $300mn in limit for more than $100mn in adverse development above the $1.8bn of loss reserves Navigators had at the end of 2018.
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The insurer said transforming portfolio to mostly six-month policies will help it enact price corrections in the auto LOB more quickly than in the past.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.