Major losses
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The figure includes around $17mn of unfavorable reserve re-estimates for prior period events. -
Rising severity, along with rebounding frequency, across personal lines is among the most acute challenges for the coming months.
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Piraeus Bank bought the action against Antares over the detention of a vessel in Venezuela in 2015.
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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 scale of the claim deals a substantial blow to the subsection of the energy market, but is not as large as first feared.
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The lessor is recording a write-off for 19 aircraft leased to Russian airlines after it successfully recovered three planes since the start of the outbreak.
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The personal lines giant reported Q1 unfavorable non-cat prior year reserve re-estimates of approximately $160mn, driven by auto physical damage and bodily injury severity.
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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 made 2022 the sixth consecutive year in which Q1 losses topped $10bn.
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Large energy property damage losses in 2020-21 saw a significant reduction, accounting for a total of $500mn across the two years.
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Sources said they expect other major commercial insurers to follow suit, with territorial exclusions potentially broadening to Belarus.
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