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Argo loss portfolio transfer allows ‘protection against reserve volatility’: CEO Bradley
Yesterday, Argo disclosed that it entered into a loss-portfolio transfer agreement with Enstar and will accept an after-tax charge of $100mn in Q3 to secure the cover.
Research
The personal lines insurer’s results were also impacted by the states’ regulatory climates and inflationary trends.
The firm’s specialty pivot seems to be paying off in premium growth and value creation.
Floridians’ results continue to reflect the difficulties of the present marketplace and leave the future unclear.
The insurer’s results are in line with other carriers, but they are ahead of the curve on adjusting loss costs.
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While still too early to assess the damage fully, Aon believes the impact on property, infrastructure and agriculture will be significant.
The New York-based insurance conglomerate recorded a loss ratio of 60.6%, 0.3 points down from the previous year, while its core LR improved 0.9 points to 60.8%.
The ratings agency also affirmed the company’s financial strength rating (FSR) of A- and long-term issuer credit ratings of a-.
The company is taking rate to offset rising costs, foresees return to CoR in “mid-90s” over next two years.
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Opinion
Unreserved: Episode 12 – Aon's Eric Andersen
In the 12th episode of Inside P&C’s podcast, Unreserved, Aon president Eric Andersen sits down with Inside P&C's acting managing editor, Adam McNestrie.
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InsurTech Slide eyes $100mn in Series B round
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Florida veteran Desjadon raising capital for new venture
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Longform Research
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The classic car insurer goes public but might have to pay a price for growth later. -
The Inside P&C Research team looks at what subsectors the new class of InsurTechs is targeting.
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Activist investors are successfully learning how to navigate a regulated industry.
The executive discussed InsurTech challenges, his priorities for Branch, fundraising, and his concerns about the capital markets.
Rate increases are now universal in the property cat markets, the Gallagher Re executive said.
In an interview, Hiscox USA CEO Kerridge said the firm’s digital retail business in the US has over 600,000 policies-in-force.
The intermediary is launching as the events space is set for a comeback after being hit in 2020 with major losses that stemmed from pandemic-driven cancellations.
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