For Axis, an undersized player with a recent record of earnings pressure, the decline in its shares is likely to translate into nearer term constraints that could narrow its long-term paths forward.
Transformations in Argo’s corporate governance following the proxy advisers’ support for little-to-no change raises questions about the role such firms play in a complex business like insurance.
P&C valuations plummeted from a recent peak of 1.42x to 0.92x, the lowest since 2013. The “worst of all worlds” thesis we outlined recently not only looks highly likely, it now looks even worse.
Progressive released its February results with a challenging macro backdrop. Key figures included a 90.3% consolidated combined ratio and an LTM shareholder ROE of 26.4%.
Argo’s proxy filing unveils the depth of its past culture issues and raises questions on what the board knew, when it disclosed it, and how that shaped the terms of Mark Watson's departure.
