Earnings

The California-based carrier reported underwriting income was $13mn, a slight uptick on Q2 2020, resulting in a combined ratio of 76%.

The carrier reported book value per share up 8.3% over the first half of the year.

The Florida-based carrier is now scaling back personal lines exposure and raising rates after reporting a $25mn Q2 loss.

The carrier reduced its catastrophe retentions and increased quota share reinsurance protection.

Positive earnings results feed an optimistic outlook for the firm, despite some future challenges.

Attorney television advertising targeting remote workers could have lasting impacts on personal auto trends.

The company expects ‘similar resurgence’ of claims in workers’ comp over the next year.

The transaction generated a $3bn war chest, much of which AFG has already distributed to shareholders.

Lemonade grew gross written premiums substantially during the period to $90mn.

The (re)insurer generated what it said was a record quarterly underwriting profit, boosted by a 67% spike in E&S underwriting income to $27mn.

The company’s combined ratio rose by 5.9 points to 95.7%, as lower second quarter catastrophes and a better expense ratio helped mitigate the impact of the higher attritional loss activity.

Core operating earnings reached a record $288mn in the quarter, on a combination of improved underwriting results and strong investment returns.