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The carrier’s share price dropped 3.6% on its Q1 results. -
The carrier booked EUR800mn in LA losses in the P&C segment.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
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The CEO expects overall P&C pricing to be “stable” through 2025.
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The insurer has not decided whether to sell its Eaton subrogation rights.
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Beazley, Hiscox and Lancashire all grew in Q1 despite widespread rate decreases.
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The carrier estimated its California wildfire loss at $145mn-$165mn.
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Growing economic and population exposures are driving potentially larger insured losses.
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Six weeks after the storm, Perils released its first industry-loss estimate at EUR619mn.
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The storm made landfall in Queensland, Australia at the beginning of March.
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SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
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Insured losses were the second highest on record for the first quarter.
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