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Global P&C chief Conoscente notes the carrier “very positive” on casualty.
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The insurer saw high growth in marine, property and its Lloyd’s business Cathedral. -
The Chubb chairman and CEO says a broad acceleration of rate growth is sustainable.
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The Beazley results released yesterday represent the broader market picture in microcosm, and most of the key themes of earnings season were legible there.
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The specialty insurer reported earnings of $0.82 per share, beating analysts’ consensus of $0.64 per share.
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J Powell Brown said E&S in the London market was the most pronounced pocket of price expansion.
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The company’s Q2 report also noted higher loss costs in commercial auto and general liability.
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AuM as measured by Trading Risk was almost flat at $103bn, up fractionally on 1 January.
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Insurers are looking to cover recent claims and prepare for potential losses.
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It’s clear that pricing is improving. But how widespread is the pain that’s driving it? (It’s not just AIG & Lloyd’s)
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CEO Horton says a "material change in sentiment" has pushed pricing up well above the carrier's earlier expectations.
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The ending of a prolonged period of flux may entice new market entrants despite the disappointing size of the rate increase.
