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The P&C re segment’s combined ratio improved by 12.7 points to 61.0%. -
The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The carrier reported an increase of 82% in pre-tax income.
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The move will impact around $50mn of gross written premiums in total.
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The Swiss carrier improved its P&C combined ratio by 1.2 points to 92.4%.
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More investment in early stage firms is an indicator of bullish market, says Gallagher’s Johnston.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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This publication reported yesterday that Talanx was closing in on the sale.
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CEO Alex Maloney said Lancashire’s growth was “more measured” amid softening.
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Natural catastrophe claims remained consistent compared with the prior year.
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The loss was driven by nat cats and reserve adjustments in US casualty.
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