Yesterday, National General discussed Q1 results which included operating EPS of $0.91, up 18.2% YoY, and a headline combined ratio of 87.8% compared with 89% last year.
The JRVR management team detailed for analysts why it expected its Covid-19 exposure to be minimal, though it expects the fallout from the virus to hit the company’s top line in the second half.
Preliminary data for April suggests auto frequency is down around 50%. We expect this could put pressure on for more/bigger premium rebates, and potentially add liquidity stress to intermediaries.
Markel held its quarterly earnings call yesterday, during which it hit on a number of topics, including outlining for analysts the nature of the company’s pandemic losses.
