The Vacationers Corporations, Inc. reported second quarter web revenue of $534 million, in comparison with a lack of $14 million throughout the identical time a yr in the past, due to report web premiums of about $11.1 billion.
The New York-based insurer posted a second quarter mixed ratio of 100.2—greater than 6 factors higher than the outcomes for second quarter 2023—regardless of recording about $1.5 billion in disaster losses in the course of the interval from quite a few extreme convective storms in a number of states and logging an underwriting lack of $65 million, which was narrowed from the $640 million underwriting loss within the second quarter 2023.
Web revenue for Vacationers’ enterprise insurance coverage section was $254 million greater than Q2 2023 to $656 million thanks largely to web favorable prior-year reserve improvement of $34 million in comparison with unfavorable improvement of $101 million final yr throughout the identical interval.
The mixed ratio for the section improved 4 factors t0 96.1 in Q2 2024. Enterprise insurance coverage recorded an underwriting revenue of $193 million, reversing a lack of $14 million.
The non-public traces section took an underwriting lack of $373 million in comparison with $831 million a yr in the past. Private traces recorded an general second quarter revenue lack of $153 million in comparison with $538 million in 2023. The section booked greater than $1 billion in disaster losses, however elevated favorable reserve improvement to $172 million from $42 million a yr in the past.
The second quarter mixed ratio for Vacationers’ private traces enterprise was 108.5—a greater outcome than the 122 recorded in Q2 2023.
Web written premiums of about $4.5 billion elevated 9% due to robust renewal premium change in auto and owners insurance coverage.
Subjects
Profit Loss
Underwriting
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