Earnings

The carrier’s underlying loss ratio, excluding the effects of catastrophes and prior-year developments, improved to 63% in Q3 from 68.8% the previous year.

Insurance carriers tend to favor a negative outlook during their earnings calls, even when its unwarranted.

Catastrophe losses push P&C industry CR higher, send industry to underwriting loss for first nine months of the year, AM Best estimates.

Growth continued to slow as the company responds to adverse loss-cost trends.

The firm showed optimism for the future, but are recent gains the new normal or a temporary positive blip?

Metromile reported a contribution loss of $2.1mn in the third quarter compared with a contribution profit of $4.7mn in the prior-year period, as the loss ratio at the auto carrier continued to swell.

Everyone knows the phrase “A jack of all trades is a master of none.” Relatively few people know the continuation of the phrase: “but often times better than a master of one.”

United Insurance holdings (UPC Insurance) reported net catastrophe losses of $37.0mn in Q3 2021, down from $140.0mn for the prior-year quarter, after action to significantly reduce gross and net catastrophe exposure during the past year led to a “materially reduced” hurricane loss.

The firm posts quarterly results amid worsening loss-cost trends, and its stock jumps.

IGI has reported third-quarter core operating income of $15.4mn, a 140.6% increase year on year, as net earned premiums grew and claims and expenses fell.

InsurTech Kin Insurance reported an 89.8% adjusted loss ratio for the third quarter, marking a 17.6 point improvement over same quarter last year, the company said.

The carrier will put its Maison Insurance operations into run-off.