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Travelers’ Q4 not a good sign for brokers
28 January 2010
Travelers’ fourth quarter underwriting performance does not bode will for brokers’ ongoing commissions and organic growth, an analyst at Atlantic Equities has warned.
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[Travelers]
[brokers]
[atlantic equities]
[alan devlin]
Travelers’ fourth quarter underwriting performance does not bode will for brokers’ ongoing commissions and organic growth, an analyst at Atlantic Equities has warned.
Earlier this week, Travelers reported a 4% year-on-year decline in new written premiums, an acceleration from the 2.8% decline the US insurer posted in the third quarter of 2009.
The decline was driven by the force of the recession on exposures, while the deterioration in new business was primarily because of the effect of audit premiums - the adjustment at the end of the coverage period if...
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