Old Republic says commercial auto pricing is ‘nearing’ rate adequacy
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

Old Republic says commercial auto pricing is ‘nearing’ rate adequacy

James Thaler
January 28, 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
Old Republic with Craig Smiddy Chicago.jpg

Old Republic CEO Craig Smiddy told analysts on Thursday that the company’s recent reserve releases in the commercial auto line of business should be viewed as a sign of a return to health for the segment, and that after years of significant rate increases in response to accelerating loss trends, the insurer’s commercial auto portfolio is closing in on rate adequacy.

The executive was discussing fourth quarter and full-year results, in which the underwriting income in Old Republic’s general insurance unit soared 79% to $109mn, thanks in large part to the roughly $61mn in reserves released, mostly tied to the...

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsResultsOld RepublicCommercial auto
JT
James Thaler
Gift this article