Chubb
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends. -
Rate rises in the commercial lines market have decelerated in most insurance markets, but executives expect increases to remain above loss costs for some time.
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Inside P&C’s news team canters through the week’s key developments.
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The carrier split its specialty composite treaty into two contracts to get its program home.
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The firm reported strong quarterly earnings, with a core operating ROE of 11.3%, but margin improvement will depend on loss cost trends and broader economic forces.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The figure was partially offset by $15mn of pre-tax unrealized gains, bringing a total net realized and unrealized loss of $58mn.
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Commercial P&C rates, which increased 8.7% and around 10%, respectively, in the North America and international businesses, continued to exceed loss costs.
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Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.
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Chubb has also received demands from shareholders for more information on its climate-related policies.
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Within the 10 sectors the commercial insurer analyzed for the report, Chubb said “the continuing trend toward nuclear verdicts looms large”.
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