The three things we learned this week include updates from two of the industry giants and continued insights on business trends in the industry:
- AIG annouces breakup, new CEO. These moves will allow the financial services conglomerate to divide and conquer the hardening P&C market and Life business with the prospect of extended low interest rates.
- The Chubb Q3 earnings call transcript, always provides good insights on the health of the industry as a whole. They managed to perform well despite high frequency of CATs, economic uncertainty and a hardening market.
- Worker’s Comp experiences profit from lower frequency due to COVID shutdown but economic downturn may negatively affect profitability going in 2021. Like other LOBs there are implications from the economy but the industry can read these signs put strategies in place to mitigate risk.