Yesterday, WR Berkley reported second-quarter earnings, posting an underwriting profit in spite of elevated catastrophes and significant losses from Covid-19.
The carrier’s May results continued to display the multiple moving pieces resulting from the Covid-19 crisis, with loss ratios low but appearing to be heading back up, but elevated expense offsets.
May CPI data included another downward spike in auto price inflation driven by declines in accident frequency, with countrywide lockdowns related to Covid-19 leading to rebates.
As fundraising accelerates, we believe that capital formation coming in the front door as equity capital must be viewed in the context of alternative capital leaving through the back.
Willis’ Q1 commercial lines pricing survey showed a 6% rate increase, flat from Q4 and higher than all other 2019 quarters as large accounts recorded double-digit increases.
Lemonade published its S-1 on Monday, kicking off its IPO. We review three key discernable questions on what we assume is a business model hidden within hundreds of pages of Silicon Valley buzzwords.
Are the elements needed for a sustained hard market in play? Not so long as capital is knocking the door down to get into the market at the merest sniff of opportunity.
RenRe announced a ~$1bn share issuance yesterday, its first public raise since 2001. We think the move may challenge a decade-long intellectual orthodoxy of the “tipping point”.