Earnings

The InsurTech’s president spoke to Inside P&C with confidence surrounding its future, despite deterioration in the stock share price and redemptions in tandem with its August 2 IPO.

In its first ever reported quarterly earnings, the InsurTech registered heavy underwriting losses citing cats and real inflation.

What's next for the firm after posting poor results and cutting guidance?

The insurer has faced calls from Harbert Discovery Fund to return excess capital to investors.

GWP surged 21% year on year for the carrier, with long-tail lines generating 28% growth.

The carrier posted a strong turnaround after suffering heavy Covid-19 claims last year.

Burns & Wilcox growth across personal, professional lines helps lift HW Kaufman Q2

The insurer said it had "a tsunami of rate rolling onto the book".

The insurer reported a combined ratio of 283.5%, sharply worse than the 147.9% in Q2 2020.

With the call taken on the break-up and radical re-underwriting over, the firm may become Just Another P&C Insurance Company.

ProAssurance executives say Norcal acquisition played a big role in the swing to Q2 profit, and the integration is expected to produce expense savings.

The Florida insurer’s CEO said he was “cautiously optimistic” that legal reforms would benefit insurers struggling with rising loss inflation.