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15 May 2024Insurance

Farmers steps back into Californian CMP market, buoyed by ‘positive changes’

California’s largest commercial multiple peril insurer Farmers is re-entering several key lines of business in the state, citing “positive changes” in the California’s commercial insurance market. The news comes just ahead of insurance commissioner Ricardo Lara’s scheduled update to the California Assembly on his market strategy progress.

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Insurance
10 May 2024   Positive shift due to improved underwriting earnings, cash flow, and stability.
Reinsurance
2 May 2024   After several years of bad losses, 2023 saw reinsurers begin to rebuild their capital. With third-party capital still slow to return to the market, 2024 sees a more balanced market, according to SCOR’s global property & casualty.
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22 April 2024   ‘Strong’ pricing across most lines spells solid underwriting profit, AM Best says.