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Travelers news from Insurance Insider
Full-stack carriers fail to outclass incumbents with no clear platform differentiation.
Court documents show Travelers subsidiary Northfield Insurance is the insurer.
The research team presents the June cat heatmap.
Pricing slowdown and reserving concerns are the hot-button topics as earnings kick off.
On the rate environment, Schnitzer said the amplitude of the pricing cycle is shrinking.
Cat losses declined to $927mn from over $1.5bn a year ago on windstorms and hailstorms.
Major insurance industry groups and companies have recently pressed lawmakers to include the provision.
The deal leaves premier surety as Travelers' sole Canadian portfolio.
During first quarter earnings calls, insurers argued that they can mitigate volatility.
Insurers haven’t announced concrete steps – yet.
The executive has been with the firm’s underwriting team for over 12 years.
A one-time impact would be a mid-single digit increase to physical injury auto severity.
The business insurance segment booked a CoR of 96.2%, up 2.9 points YoY.
The decision is the first of its kind under the new Trump administration.
Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
The insurer’s strong Q4 results might not read across to the rest of its peer group.
The Insurance Insider US news team runs you through the earnings results for the day.
Cat activity was a “modest” $175mn for Q4, but still up year over year.
The insurer also added $150mn cat coverage while reducing the total ceded premium for this treaty.
Cat losses rose to $175mn, fueled by Hurricane Milton and higher Helene estimated losses.
‘Emotionally driven’ claims by non-profits underscore their unique D&O exposures, according to Travelers' Nicole Murphy.
The company’s stock price has plummeted in the wake of the LA wildfires.
A quick roundup of our best journalism for the week.
Newcomers enter on the belief that they have a “better mousetrap”, said Donato Monaco.
Asbestos claims for exposed insurers could place more pressure on workers’ comp reserves.
Competitor news
Competitor news
Competitor news
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure. -
The program, expected to start doing business next month, will be wholesale-only.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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From Insurance Insider US
Commercial lines rate increases slow to 3.8%: WTW
The figure is down from 5.9% in Q2 2024.
From Insurance Insider
LIVE from Monte: Mereo CEO Croom-Johnson
While investors recently have favored the “instant gratification” of supporting brokers and MGAs, start-up reinsurer Mereo CEO David Croom-Johnson said he thinks capital will “fall back in love” with balance-sheet companies who deliver consistent profitable results.
From Insurance Insider
LIVE from Monte: Paul Campbell, Global Growth Officer for Aon’s strategy & technology group
Paul Campbell details how the most profitable insurers act during a soft versus hard market.
From Insurance Insider US
Brown & Brown appoints Hearn to lead global operations
The executive has been serving as COO since February.
From Insurance Insider US
WTW books 5% organic growth in Q2
The R&B unit posted organic growth of 6% in the quarter.
From Insurance Insider US
Conduit reports H1 loss and 122% CoR in ‘period of transition’
The carrier said market dynamics were shifting due to increased capacity.
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