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The firm’s earnings set it on the path of great expectations for 2022-2023. -
Good news may be temporary, no matter how good it is.
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The carrier reported 14.2% top-line growth and rate increases of 10.2%.
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The carrier reported price improvements of 4% at the summer renewals.
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Net diluted earnings per share jumped to $43.25 in Q2 2021, up from $15.26 last year.
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CEO John Marchioni also said he expected increases in social inflation trends to return as the economy reopens.
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The Chicago-based specialty company saw its combined ratio to spike to 116.1%.
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Kinsale posts a combined ratio of 79% in Q2 despite massive GWP growth.
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The broker expressed disappointment in not completing its planned acquisition of some Willis Towers Watson brokerage operations, but touted the success of its tuck-in acquisition strategy.
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he executive pointed to the reported outline of the bill – including $100bn to spend on roads and bridges, $65bn for broadband, and $17bn for ports – as having the potential to increase demand for insurance.
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The company is considering pricing actions, primarily in the homeowners’ line, as inflation accelerates.
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Texas-based Goosehead Insurance posted a 40% increase in Q2 core revenue.
