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Frequency has rebounded, while severity has spiked beyond the pre-Covid-19 years. -
Berkshire Hathaway’s "float" rose to $171bn in 2024 from $169bn in 2023 as Buffett praised Geico’s Todd Combs.
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The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.
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A quick roundup of our best journalism for the week.
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January cat losses continue to run higher than prior years, with no help from latest wildfires.
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The news comes around three months after GTCR agreed to sell AssuredPartners to AJ Gallagher for nearly $13.5bn.
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The ratings agency has revised Mercury’s outlook from stable to negative.
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The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.
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Insureds, however, are often reinvesting savings into purchasing increased limit.
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The traditional R&W product is seeing an increasing number of large losses.
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In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
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The carrier said 72% of those losses occurred in personal property.
