Small and Middle: A Different Story

Unlike Rob Berkley and Evan Greenberg, who offered negative commentary about the state of the property reinsurance and large-account commercial property insurance markets last month, The Hartford’s CEO Christopher Swift highlighted property opportunity for his company, which is focused on small business packages and middle market accounts. “Property continues to remain highly profitable and an attractive area for growth, though pricing moderated in the quarter,” said Swift, noting price increases rather than decreases. Prices remained “fairly steady in the mid-single digits” for the small and middle business, which represents 60% of the carrier’s property book, he reported.