Workers Compensation
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2022 statutory data is now available, and results show winners and losers -
The executive’s remarks followed Employers’ Q4 results, where the workers comp specialist’s top line rose 22.4% to $174mn, compared to 24% growth in Q3 2022.
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The increase in GWP was driven by higher new and renewal business writings and higher final audit premiums, the company said.
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Chubb’s balanced view of the market as a whole, and pricing and loss cost trends in particular, puts it ahead of the curve on value creation, despite a difficult economic backdrop.
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The firm’s flattening rates and favorable reserve development provide a read-through for commercial insurers.
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Third-quarter statutory data reveals premium growth, worsening loss ratio because of increased loss cost trends and Hurricane Ian.
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The pandemic was “not a significant loss driver” for most industry segments as of late 2021, the report read.
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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 CEO’s comments follow yesterday’s Q3 earnings report, in which the carrier’s GWP grew 24% year-on-year, accelerating for the third consecutive quarter.
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The firm reported better than anticipated earnings factoring in Ian, but a slowing economy could cloud the outlook.
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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 multi-year smooth cycle may face disruption from factors like the great reshuffle, inflation and long-lasting health impact of Covid-19, according to its latest report.
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