Catastrophe ExposureManagement expects increased exposure to the LA fires, leading to a higher catastrophe estimate.
Reserve DevelopmentThe adverse development in the Commercial segment, with a reserve development of $53mn, compares unfavorably to estimates and raises concerns about elevated bodily injury loss cost trends in commercial auto.
Warranty ClaimsHigher frequency of warranty claims in the Specialty segment led to adverse development of $10mn, which is worse than expected and linked to vehicle owners keeping their vehicles longer post-pandemic.