Cincinnati Financial
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A differentiated investment strategy has led to increased value creation and price-to-book multiples for a small group of specialty carriers. -
With pricing decelerating and loss-cost trends potentially reversing, regionals should continue to execute on their present strategy.
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The firm’s specialty pivot seems to be paying off in premium growth and value creation.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Rising prices drove Q2 losses and expenses higher, pressuring both commercial and personal lines, CinFin executives say.
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The shares are trading today at $98.56 per share, down 13.13% from yesterday's close.
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NWP rose just under 15% at the commercial lines focused company as commercial lines rates rose in the mid-single digits.
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The sector was hit by a rough first half of 2022, with more to come in the second half of the year.
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Investments VP Steven Soloria will take on executive responsibility for CinFin’s investment operations, when Martin Hollenbeck retires.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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A surge in large losses in property book during first quarter may be partly due to inflation, not expected to linger.
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The underlying CoR, however, rose by 3.1 points to 89.3% in the first quarter.
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