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Workers’ comp releases continue to mask deteriorating reserves in 2023. -
The agency cited the InsurTech’s material underwriting losses in 2023.
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This continues a consecutive quarterly gain of over 6%.
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Sizeable investment returns masked 10-year high underwriting losses.
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Bill Fahrner most recently served as CUO at Joyn Insurance.
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The company’s book is being run off by Boost Insurance.
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The company would ideally like to target a minority investment.
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He joins Fairmatic’s executive team to lead new product production.
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Koffie began work on a sale earlier this month following major layoffs.
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December’s increase was an acceleration from 19.2% in November and October, with the CPI all-items index up 3.4% vs a 3.1% YoY rise for November.
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The ratings agency cited persistently strong underwriting results throughout the pandemic and amid substantial economic and capital markets volatility as being among the reasons for maintaining the outlook at stable.
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The company also plans to ramp up its media spend in 2024 after having significantly slashed advertising budgets earlier this year.
