Earnings

The carrier’s April results displayed multiple moving pieces from the Covid-19 crisis, including lower loss ratios in personal and commercial auto, but also a higher expense ratio and lower growth.

The “empty-street” economy has left auto-exposed names in a relatively favorable position – so much so that they have been returning premiums to clients.

The company’s president told Insurance Insider that “US entry was inevitable”.

IGI had its debut on the Nasdaq in March, as the company closed its $390mn reverse merger with blank cheque company Tiberius.

The company released its Q1 earnings, which included a 0.3pt improvement in its combined to 92.2%, as it reaffirmed its FY2020 guidance of $6.45-$7.25 in operating EPS.

The carrier’s chief executive officer said the “vast majority” of BI cover in the US has virus exclusions.

Dan Malloy says most of the carrier’s property cat portfolio is personal lines-focused.

Horace Mann released its Q1 results which included a 6.9pt decline in its combined to 88.6% and a 23.8% increase in its operating EPS to $0.78.

Kemper released its Q1 results which included a 2.1pt deterioration in its P&C combined to 94.2% and 62% growth in its operating EPS to $2.43.

The Floridian’s InsurTech subsidiary TypTap grew premiums threefold, leading to a 13% rise in premiums written overall.

Core underwriting margins in the International segment remained flat YoY, while underlying results in the US weakened.

The turnaround effort at Third Point Re took hold, after the company reported strong results that included its best underwriting result as a public company and continued favorable development.