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The Alabaman carrier’s loss ratio deteriorated by 8.2 percentage points to 80.5 percent. -
The carrier's core earnings rose by 17.7 percent year over year to $1.33 per share in Q2 2019.
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The specialty workers’ compensation insurer reported GWP of $87mn, down 7.1 percent year on year.
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The sanction comes after Berkshire Hathaway agreed to sell its stake in the workers’ compensation carrier to United Insurance.
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The combined ratio fell by 5.9 percentage points to 86.4 percent last year, according to a new report.
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The Citibank-run sale process attracted interest from The Hanover.
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The deal comes amid regulatory probes into the workers’ compensation insurance unit.
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Three will be a “significant asset” of Berkshire Hathaway in 10 to 20 years.
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Selective achieved renewal pure price increases that, on average, were in line with expected loss trends.
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The company posted $0.91 EPS in Q1 2019, beating consensus estimates.
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Company said loss trends continue to have a “major impact” on operating results.
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The Alabama-based insurer missed EPS consensus by 77 percent in Q1 2019 with a combined ratio of 106.3 percent.
