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The broker is looking to move as much of the book away from its adversary as possible. -
The company provides management workflow for residential contractors.
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Pricing was “virtually flat” in the second quarter.
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The CEO said business remains adequately priced in most classes.
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The carrier is reducing its exposure to quota shares and shifting to XoL.
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The broker has noted that double-digit reductions are increasingly available in property.
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In part II of our series, we look at where AI is being integrated into claims departments.
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The carrier said market dynamics were shifting due to increased capacity.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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The loss ratio rose 1.9 points to 53.1%, while the expense ratio ticked up 0.6 points to 28.1%.
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The carrier had $20mn in reserve releases in the quarter, compared to nil in Q2 2024.
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This brings the carrier’s total limit on the program to $1.8bn.
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