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The CFO attributes the 0.5 percent risk-adjusted rate rise to the diversity and size of its portfolio.
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The latest quarter was the second-lowest Q2 for issuance volume in the past eight years.
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The club, which retains its BBB financial strength and issuer credit ratings, pledges to engage with the ratings agency to reverse the outlook change.
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Following the pricing story told by the results season – not to mention recent source conversations – has at times produced whiplash.
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The carrier will continue to write more long-tail business to manage down its cat exposure.
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The reduction in rate rises permitted for the class of insurance follows a public pricing review.
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Encouraging signs that the (re)insurance industry will continue to see rate rises, says Everest Re’s CEO.
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Claims inflation looks set to squeeze reserve releases and offset the impact of rate rises.
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The company warns of IT hiccups within Hiscox Retail and lower reserve releases in the second half.
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The firm’s executives echo fellow brokers in questioning suggestions of significant market firming.
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There’s a really simple reason us Brits are famous for talking about the weather so much.
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The CEO said that cutting back during the soft cycle had left the carrier in “great shape”.