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Investors pile into James River stock after the Bermudian sells off its loss-riddled legacy portfolio of Uber policies. -
Without any major catalysts, the short interest for the industry was muted, with movement centering around InsurTechs once again.
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Markel will provide approximately $150mn to facilitate the buyout of the retrocessional segregated accounts of the funds, as well as tail-risk cover to release $100mn of trapped collateral.
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As federal courts and the SEC take a more critical view of the vehicles, D&O underwriters are approaching coverage with caution.
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Pressure on Root cools following stock price dips, but persistent short interest in InsurTechs suggests that prices haven’t bottomed out yet.
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Stock analysts raise price targets on Willis shares after execs outline financial goals following the collapse of the Aon-Willis merger.
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Shares in the InsurTech are up 38% since further detailing losses from Winter Storm Uri and PCS cat events last Thursday.
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The surge likely reflects talk in the buy-side community fuelled by tracking the latter's private jet.
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The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.
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Reinsurers, commercial and specialty carriers stocks edge down after Hurricane Ida, in line with dip in S&P Insurance Index.
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Pressure on the InsurTechs – specifically Root and Lemonade – is intensifying.
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The classic car insurer is expected to trade under the ticker HGTY.
