Commercial Lines
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The ratings agency cited modest negatives from the pandemic, strong pricing momentum and favorable rulings on business interruption coverage disputes.
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Rate increases and a decline in BI claims factor in AM Best's revision for the US commercial property market to "stable" from "negative".
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The firm showed optimism for the future, but are recent gains the new normal or a temporary positive blip?
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Louisiana Citizens has increased the amount of commercial property insurance coverage available, aiming to guarantee that businesses can buy enough coverage through the state-backed carrier if they cannot get coverage in the private market.
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New entrants in excess casualty space have brought competition and helped slow rate increases across most lines, an RPS panel says.
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The appointments are in line with the planned retirement of RLI’s current chairman and CEO, Jonathan Michael in December.
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Are this quarter’s positive results a sign of change for the company or a temporary blip?
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The Chicago insurer improved its Q3 combined ratio to 100%, reported 8% rate increases and grew GWP by 10%.
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Moderating rates and elevated nat cat frequency and severity don’t negate margin improvement and stronger-than-expected EPS.
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Commercial P&C net written premiums were up 22% in the quarter, with P&C NWP growing by 16.9% to $9.9bn overall.
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Capping the firm’s positive quarterly results, Travelers noted a strong but moderating rate in the business insurance segment in a positive read-through for commercial lines carriers.
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Tiptree had initially planned to float the warranty and program business earlier this year.
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