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The company is also pursuing “deconcentration” to lower SCS exposure. -
But automotive repair costs are likely to increase faster than home repair.
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Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.
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The remediation process is on track for completion in the fourth quarter.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The days of 30%+ growth are probably behind the firm, he said.
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Overall, the company’s underwriting income fell 43% to $417mn in the first quarter.
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The LA fires and spring storms drove CinFin's CoR up 19.7 points to 113.3%.
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The carrier is targeting an IPO valuation between $2.6bn and $2.9bn.
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The LA wildfires, however, will be the firm’s largest event to date.
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Q1 rates in most lines were consistent with prior quarters but slightly down on 2024.
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The Insurance Insider US news team runs you through the earnings results for the day.
