The Lost Cost Trend and Inflation in the P&C Insurance Industry
To provide a bit of context, over the two decades decade an average 73% of every dollar of earned premium in the U.S. P&C market was spend on loss payments, which consist of Pure Losses (61%) and Loss Adjustment Expenses (LAE – 12%). An additional 28% of each dollar was spent on general operating expenses, […]
Principal Financial Exiting U.S. “Retail” Individual Life Insurance & Annuity Businesses
On June 28, 2021, Principal Financial Group (PFG) announced the results of a strategic review of all of its
business, which will result in the group increasing its focus on higher-growth retirement, asset management, and
group benefit business with the aim of “making it a more capital-efficient company.”