HCI Group
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Monday’s disclosure showed the company had $78.8mn of gross premiums earned in 2020, and $119.4mn earned in the nine months ended 30 September 2021. -
Root and Lemonade remain the highest-shorted stocks covered, as short interest in most firms remains flat in anticipation of earnings.
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The private equity-backed retail brokers have lessons to teach the sector’s tech start-ups.
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Inside P&C's Research team looks at the prospects of Florida's wave of new arrivals.
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Without any major catalysts, the short interest for the industry was muted, with movement centering around InsurTechs once again.
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Pressure on Root cools following stock price dips, but persistent short interest in InsurTechs suggests that prices haven’t bottomed out yet.
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The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.
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Pressure on the InsurTechs – specifically Root and Lemonade – is intensifying.
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InsurTech short interest dwarfs legacy insurers as they come under pressure to produce profits.
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The insurer had a record quarter for earned premiums, linking the boost to the growth of TypTap, which recorded $39mn in earned premiums.
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The move follows a $100mn capital raise in February from private equity house Centerbridge Partners that valued the InsurTech at $850mn.
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Its reinsurance premiums ceded are expected to reach $207mn, up from $175mn a year earlier.
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