AM Best revises GeoVera outlook to negative after continued cat losses
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AM Best revises GeoVera outlook to negative after continued cat losses

Bernard Goyder
April 23, 2021
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AM Best has affirmed property catastrophe insurer GeoVera’s financial strength rating of A, excellent, but revised its outlook for the rating to negative, following several years of “outsized cat losses”.

The rating agency said that cat losses had added 30 points to the carrier’s combined ratio on average in recent years, a figure consistently above the insurer’s expected cat load.

AM

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