Universal

At the same time, insurers are assessing the level needed to address loss cost trends.

The executive said that the company reduced its consolidated retention and ceded premium ratio for its 2023 and 2024 treaty program.

The Inside P&C news team runs you through the earnings results for the day.

Forecasts for “near-normal” activity may mean the chance at a reprieve for the Florida market, but a history of underestimates warrants caution.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

This compares to the subsidiaries’ 2022-2023 reinsurance tower, in which they secured coverage for losses up to $3.16bn.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The pullback mirrors what the state went through last year before and after June 1.

The carrier’s combined ratio totaled 100%, up 2.1 points from Q1 2022, reflecting a higher net loss ratio, partially offset by a lower net expense ratio.

The move follows the carrier’s 30-point improvement in its combined ratio to 101.4% after markets yesterday.

The carrier reported a Q4 combined ratio of 101.4%, an improvement of 30 points year-on-year, driven by a 27-point reduction in its loss ratio.

The carrier reported 76.3% for its loss ratio for the quarter, which resulted from a lower current accident-year net loss ratio and lower adverse prior-year reserve development.