Travelers
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SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.
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Commercial carrier earnings continue to show mixed prior-year development.
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The percentage of cases that could lead to higher losses increased in 2023.
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Shares rose to over $213 at one point – from their previous close of $198.35 – after this morning’s Q4 results, which included an 8.7 point combined ratio (CoR) improvement driven by a rebound in personal lines.
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The carrier also renewed the 20% quota share with Fidelis, maintaining the same loss ratio cap the parties agreed in 2023.
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The program’s retention remained the same at $3.5bn.
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The personal insurance segment’s CoR slashed to 86.8% from 105.3% in the prior year quarter, as the contribution of cat losses declined by 7.3 points to 2%.
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The announcement closes the $435mn-deal which was announced in early November.
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Travelers is set to expand its core cat treaty by between $1bn and $1.5bn, in a further sign of increased demand for cat reinsurance coverage at 1 January, this publication can reveal.
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Sources agree that there are others that could follow a similar playbook, but there are three key considerations to keep in mind when pursuing a strategic-on-InsurTech transaction.
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The Insurance Insider US Research team walks buyers through valuation considerations for InsurTech MGAs, as capital constraints point to further consolidation.
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Broker and commercial carrier trends separate as inflation slows but rates stay elevated.
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