-
On Friday, workers’ comp specialist EIG held its Q1 conference call, giving the first pure-play lens on a market facing a sentiment tipping point. -
What can go wrong? Lower yields. Market-linked income under pressure. Rising loss costs. Mean reversion in personal auto and workers’ comp. Welcome to 2020?
-
Both the public workers’ comp pure-plays reported Wednesday with somewhat conflicting signals.
-
Co-CEO Carl Lindner’s comments at the Bank of America conference serve as a reminder of the thinning margin of error in workers’ comp.
-
On Thursday morning, Travelers reported EPS of $3.32 versus $2.13 YoY and a headline beat versus analyst consensus of $3.29, in part driven by low catastrophe losses (thanks to an aggregate reinsurance recovery).
-
James River reported a net operating loss of $0.73/sh, better than the consensus estimate of a $0.92/sh loss but down from $0.64/sh profit made in Q3:18 as prior year Uber-related losses stung.
-
Amerisafe reported net operating income of $1.09/sh, a 36% beat versus consensus estimate of $0.8/sh and up from $1.01/sh in Q3:18 as underwriting profit and investment income advance.
-
Rates charged in California are down 33% since 2015 and at the lowest level since 1976.
-
The company said increases were needed to address “generally unfavorable pricing trends in the market place”.
-
The product will be underwritten by Dovetail Insurance, a Victor subsidiary focused on InsurTech.
-
Shareholders voted in favour of the $36 per-share offer, with the deal set to close on Thursday.
-
Terms of the deal for the workers’ compensation carrier have now been released.
