After a surprisingly positive start, new data points emerging from Q1 earnings are skewing negative. In fact, the drip-drip of bad news is starting to become a stream.
P&C companies likely face dissent on executive pay at upcoming AGMs amid deteriorating shareholder sentiment in the financial sector and a growing trend of executive pay cuts during the Covid crisis.
The second day of P&C earnings played out with more of the “leaning in” to negativity we had been expecting, and led to investors punishing the stocks of Chubb and RLI.
