The US business has had some good news in the last few days.
Firstly, the Florida insurance board approved an 18.8% reduction in their lender placed book of approx $500 million premium. Of this, the banks will take a 4% hit in commissions. So, effectively, Qbe will take a 14.8% hit in premium income. This is a much better outcome than what commentators had forcasted in excess of 35 to 40%.
Secondly, their has been significant rain and snow in the midwest farming areas with further rains forcasted. This should help reduce drought claims for crop insurance in 2013
good news in usa
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