Travelers will begin the fourth quarter and full-year 2024 earnings season on Wednesday morning, with RLI expected later in the day, and observers will be awaiting disclosures and insights on many of the major themes that are expected to dominate as carriers and brokers report in the coming weeks.
Kingstone Companies has scaled back its personal lines quota share treaty for 2025/26 by 11 points to 16 percent on a cut-off basis in a bid to improve profitability.
Bermuda’s P&C (re)insurance industry improved its resilience in 2023 thanks to price improvements, tightening terms and conditions, limit and aggregation management and favourable investment returns, according to a report by the Bermuda Monetary Authority.
International (re)insurance broker Consilium has reported 54 percent growth in managed gross written premium (GWP) for the year ending June 2024, with the Aventum Group subsidiary affirming its ambitious medium-term growth targets.
Shares in the Progressive Corporation were trading up 4 percent Friday after the US personal lines giant reported an 18 percent increase in net written premiums to $5.56bn in November and improved its combined ratio by 5.5 points to 85.6 percent.
Munich Re has unveiled a profit target of €6bn for 2025, with group insurance revenue expected to reach €64bn.
The US non-standard auto insurance segment showed slight underwriting profitability in the first six months of 2024 after two years of losses, leading to modest pre-tax operating income and net income, according to a new AM Best report.
New Zealand-based insurer Tower Limited has posted a more than tenfold increase in underlying net profit after tax to NZ$83.5mn ($49.3mn) for the financial year ended 30 September 2024, with results bolstered by a reduction in large loss events.
Despite heightened competition in property and minimal impact from late hurricane season activity, the overall growth outlook for the E&S market remains strong, largely driven by healthy submission flow, especially in casualty.
Australian insurer QBE has maintained its guidance for a full-year combined ratio of 93.5 percent, with catastrophe losses for the year so far coming in within budget following the repositioning of its US property cat exposure.