Reinsurance
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The carrier reported an increase of 82% in pre-tax income. -
The forecast has increased since the early July update due to several additional factors.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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California wildfires account for $40bn of the insured loss tally in H1.
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The carrier said most lines remained well priced despite increased competition.
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Prior-year reserve development moved to a $6.3mn charge in Q2 from a $19.3mn release a year ago.
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The executive has spent more than three decades in insurance.
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The carrier also benefitted from favourable reserve development in property and A&H.
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Cat portfolios generally grew, but casualty approaches varied.
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The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
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