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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
His comments come on the heels of Markel’s announcement last week that the co-CEO plans to retire by March 31, 2023.
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The figure marks a slowdown from the last three quarters, when price increases registered at 3.7% in Q4, 7.3% in Q3 and 14.2% in Q2 2021.
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Premium renewal rate change for major commercial lines of business moved up year-on-year, except workers’ compensation, which remained negative.
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The broker said the war in Ukraine and loss cost inflation were adding pressure to an already challenging market.
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The Floridian carrier must improve its financial strength rating ahead of its 1 July reinsurance renewal.
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Cyberattacks and data losses were the top risks with 65% and 63%, respectively, followed by cyber extortion and regulatory threats with 59% and 49%.
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On an investor call for the broker’s Q1 results, Marsh McLennan COO John Doyle indicated overall pricing trends for Q1 ahead of the full index.
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The commercial lines bellwether reported positive quarterly earnings, but challenges may still be ahead.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The CPI rose 1.2% in March from a month earlier, the Labor Department said Tuesday, accelerating from February’s 0.8%.
