LAE

Strategic Advisory Board Elevates sureti’s Property Claims Resolution Capabilities

Retrieved on: 
Friday, October 27, 2023
ALE, Insurance, LAE, ATI

“Insurance carriers and restorers are challenged by increasing claims severity and frequency,” said Whatley, sureti president .

Key Points: 
  • “Insurance carriers and restorers are challenged by increasing claims severity and frequency,” said Whatley, sureti president .
  • “The experience of this multi-industry board will be instrumental in positioning sureti to reduce additional living expenses (ALE) and business interruption (BI) severity for carriers, as well as administrative burden for restorers.
  • sureti’s ability to expedite claims resolution solves these challenges by increasing policyholder satisfaction and retention.
  • “sureti improves our aging report, promptly distributes claim proceeds, prevents misuse of funds, and collects deductibles from our customers.

Employers Holdings, Inc. Reports Third Quarter 2023 Results; Declares Regular Quarterly Dividend of $0.28 per Share

Retrieved on: 
Wednesday, October 25, 2023
Consulting, Labor, Professional Services, Public Policy, Government, Human Resources, EIG, Sarbanes–Oxley Act, NYSE, Tax, Regulation, LPT, Telephone, Corporation, Share repurchase, GAAP, Employment, Regulate... G Funk Era, Webcast, Sarbanes, Finance, Investment, LAE, Appetite, Insurance, Video game, Reinsurance, Renewable energy, Bank, Holding company, Life insurance, Renting, Birth control

Chief Executive Officer Katherine Antonello commented: “Our third quarter results are a testament to the transformational changes we are making at Employers.

Key Points: 
  • Chief Executive Officer Katherine Antonello commented: “Our third quarter results are a testament to the transformational changes we are making at Employers.
  • Our capital management efforts this quarter consisted of $14.4 million of share repurchases and $7.3 million of regular quarterly dividends, and our efforts year-to-date consisted of $61.6 million of share repurchases and $22.0 million of regular quarterly dividends.
  • Today the Board of Directors declared a regular quarterly dividend of $0.28 per share.
  • During the third quarter of 2023, the Company repurchased 367,209 shares of its common stock at an average price of $38.95 per share.

Kemper Announces Schedule for Third Quarter 2023 Earnings Release and Preliminary Results

Retrieved on: 
Monday, October 23, 2023
Professional Services, Insurance, Finance, Property damage, PPA, Incidence, PD, 2012 Six-red World Championship, Telephone, Reverse convertible securities, GAAP, ROE, Kemper, Goodwill, Life, Software, Nature, Net, Personal injury protection, Internet, Webcast, Bermuda, PIP, Injury, Parent, Integration, Investment, LAE, Life insurance, Bank, Renting, Security (finance)

Significant earned rate benefits accelerating in the fourth quarter of 2023 and first quarter of 2024.

Key Points: 
  • Significant earned rate benefits accelerating in the fourth quarter of 2023 and first quarter of 2024.
  • Segment was moved to non-core operations in the third quarter after announcing wind-down of the business in August 2023.
  • 2 Pre-tax catastrophe lossesfor third quarter 2023 were approximately $21 million, including $14 million from Kemper Personal Insurance reported within non-core operations.
  • Kemper will host its conference call to discuss third quarter 2023 results on Monday, October 30 at 5:00 pm Eastern (4:00 pm Central).

Best’s Special Report: US Property/Casualty Industry 2022 Loss & LAE Reserves Slightly Redundant

Retrieved on: 
Thursday, October 19, 2023
Insurance, Professional Services, A&E, News, COVID-19, AM Best, Data, Calendar, ALL, LAE, Cryptocurrency

Property/Casualty Industry 2022 Loss & LAE Reserves Slightly Redundant,” states that the P/C industry’s carried reserves at year-end 2022 are redundant by $4.7 billion, or 0.5% of its reported surplus.

Key Points: 
  • Property/Casualty Industry 2022 Loss & LAE Reserves Slightly Redundant,” states that the P/C industry’s carried reserves at year-end 2022 are redundant by $4.7 billion, or 0.5% of its reported surplus.
  • After removing the effects of A&E and discounting, AM Best estimates the industry’s core undiscounted reserves to be redundant by $30.3 billion at year-end 2022.
  • Overall industry reserves as of year-end 2022 are estimated to be $13.3 billion stronger than reserves reported as of year-end 2021.
  • A&E reserves strengthened by $1.6 billion in 2022, and total core reserves, strengthened by $11.7 billion.

AM Best Affirms Credit Ratings of Ardellis Insurance Ltd.

Retrieved on: 
Wednesday, September 20, 2023
Professional Services, Insurance, Finance, AM Best, ALL, ERM, LAE, Risk management, Credit, AM, Bermuda, News, UFP Industries

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Ardellis Insurance Ltd. (Ardellis) (Bermuda).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Ardellis Insurance Ltd. (Ardellis) (Bermuda).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Best’s Special Report: AM Best Updates Net Capital Charge Tables Associated With Fannie-Freddie Mortgage Risk Transfers

Retrieved on: 
Monday, August 7, 2023
Insurance, Professional Services, Transfer, Table, ALL, Fannie Mae, LAE, CIRT, Publication, Capital, Freddie Mac, ACIS, CRT, News

These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.

Key Points: 
  • These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.
  • The net capital charge of CRT transactions is represented as B5m—net loss and LAE reserves risk—in the net required capital formula that is part of BCAR.
  • For this Best’s Special Report, “Updated Net Capital Charge Tables for ACIS/CIRT Reinsurance Transactions,” AM Best has selected approximately half the 160 CRT transactions effective through June 2023 to calculate the net capital charges associated with individual layers of the CRT transactions.
  • AM Best publishes these net capital charge tables semi-annually, using the most current performance data available from the government-sponsored enterprises’ websites.

Kemper Announces Schedule for Second Quarter 2023 Earnings Release and Preliminary Results

Retrieved on: 
Thursday, July 27, 2023
Professional Services, Insurance, Finance, Kemper, Integration, Internet, Telephone, Net, LAE, GAAP, Reverse convertible securities, Property damage, Incidence, Williams v Natural Life Health Foods Ltd, Investment, Nature, Injury, Webcast, Software, Bank, Renting

Combined ratios for the second quarter were adversely impacted by prior year claim reserve additions and current year catastrophes.

Key Points: 
  • Combined ratios for the second quarter were adversely impacted by prior year claim reserve additions and current year catastrophes.
  • Preliminary pre-tax current year catastrophe losses for the second quarter were approximately $39 million with the following attribution:
    Life & Health after-tax income for the quarter was approximately $9 million.
  • There were no applicable significant non-recurring items that Kemper excluded from the calculation of Adjusted Consolidated Net Operating Loss for the three months ended June 30, 2023.
  • Kemper will host its conference call to discuss second quarter 2023 results on Monday, August 7, 2023, at 5:00 pm Eastern (4:00 pm Central).

Employers Holdings, Inc. Reports Second Quarter 2023 Results; Declares Regular Quarterly Dividend of $0.28 per Share

Retrieved on: 
Wednesday, July 26, 2023
Professional Services, Insurance, Finance, Share repurchase, Sarbanes–Oxley Act, Telephone, Tax, LPT, LAE, Regulate... G Funk Era, GAAP, EIG, Investment, Corporation, Sarbanes, Webcast, Growth, NYSE, Regulation, Employment, Video game, Reinsurance, Renting, Bank, Renewable energy, Holding company, Life insurance, Airline

Chief Executive Officer Katherine Antonello commented: “Our excellent second quarter results are a testament to the transformational changes we are making at Employers.

Key Points: 
  • Chief Executive Officer Katherine Antonello commented: “Our excellent second quarter results are a testament to the transformational changes we are making at Employers.
  • Lastly, today we declared a regular quarterly dividend of $0.28 per share and announced a new $50.0 million share repurchase plan after exhausting the former plan prior to its scheduled expiration.
  • Today the Board of Directors declared a regular quarterly dividend of $0.28 per share.
  • During the second quarter of 2023, the Company repurchased 935,250 shares of its common stock at an average price of $37.90 per share.

Kemper Announces Schedule for First Quarter 2023 Earnings Release and Preliminary Results

Retrieved on: 
Thursday, April 27, 2023
Professional Services, Insurance, Finance, Kemper, Integration, Internet, Software, Telephone, Net, LAE, GAAP, Reverse convertible securities, Property damage, Incidence, Williams v Natural Life Health Foods Ltd, Investment, Nature, Webcast, Bank, Renting, Injury

The first quarter of 2023 Combined Ratios were adversely impacted by prior year claim reserve additions and catastrophes.

Key Points: 
  • The first quarter of 2023 Combined Ratios were adversely impacted by prior year claim reserve additions and catastrophes.
  • Kemper Auto was further impacted by higher than anticipated frequency within its private passenger auto and commercial vehicle offerings.
  • Preliminary pre-tax catastrophe losses for the first quarter 2023 were approximately $29 million with the following attribution:
    Life & Health after-tax income for the quarter was approximately $13 million; this reflects the accounting under LDTI.
  • Kemper will host its conference call to discuss first quarter 2023 results on Monday, May 8, 2023, at 5:00 pm Eastern (4:00 pm Central).

Employers Holdings, Inc. Reports First Quarter 2023 Results and Increases Regular Quarterly Dividend to $0.28 per Share

Retrieved on: 
Thursday, April 27, 2023
Small Business, Professional Services, Insurance, Human Resources, Share repurchase, Sarbanes–Oxley Act, Tax, LPT, LAE, Regulate... G Funk Era, GAAP, Finance, EIG, PIN, Investment, Corporation, Sarbanes, Webcast, Growth, NYSE, Regulation, Employment, Video game, Reinsurance, Security (finance), Life insurance, Bank, Holding company, Renting, Copper

Cerity's gross and net written premiums this quarter were negatively impacted by cancellation adjustments, which had no impact on its earned premium.

Key Points: 
  • Cerity's gross and net written premiums this quarter were negatively impacted by cancellation adjustments, which had no impact on its earned premium.
  • “Lastly, we raised our regular quarterly dividend to $0.28 per share, an increase of 8%.
  • The Employers segment reported net income before income taxes of $30.1 million versus net income of $2.0 million.
  • On April 26, 2023, the Board of Directors declared a regular quarterly dividend of $0.28 per share, an increase of 8% from the prior quarterly dividend of $0.26 per share.