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Executives faced pointed questions about workers’ compensation claims trends and casualty pricing during Q3 conference calls.
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Casualty pricing and demand overshadow property catastrophe, while RenRe arrives just too late to steal the show.
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Chairman and CEO Robusto lays claim to the best quarter since 2010.
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Professional lines and casualty leader roles also change with the departure of Steve McGill.
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New business in core casualty lines will be sourced from wholesalers only as of the first quarter of 2019. -
Billions of dollars of additional quota-share cover will also be purchased.
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Before Florence and Michael, rate reductions had looked set to resume.
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The earnings fell short of consensus estimates partly due to lower investment returns
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The carrier posted a loss as a rise in net earned premiums failed to offset cat losses
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The insurer said that one good quarter was not enough to “declare victory” in its turnaround effort
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But some predictions of a disastrous quarter proved overdone.
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The company reported operating earnings per share of $2.19, beating Wall Street consensus estimates of $1.87.
