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Premiums more than double, while the unit's net loss shrinks from the prior-year period. -
Greenlight Re faced scrutiny on the lack of progress from its strategic review, combined with apparent reluctance from conflicted sponsors in acting aggressively in the shareholders' interest.
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The firm's shares dived by 13 percent in trading today following its results and call.
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Underwriting income for the industry climbed $4.9bn from the previous year, driven by growth in net premiums earned, according to AM Best.
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Sirius reported an operating loss of $117mn in Q4 2019, a 13% improvement from the loss in the prior-year period, as its painful week continued.
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Floridian specialist HCI released results last night, reporting operating earnings of $0.76/sh that missed analyst estimates, alongside a bullish update on its acquisition of a book of business from Anchor and signs of rapid growth in its InsurTech unit.
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Progressive wants to expand the number of agents on its platinum program, which currently make up less than 10% of total agents.
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The company also added 5.5 percent, to its Hurricane Michael losses, taking the total to $479mn
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Universal’s earnings were badly hit by a combination of reserve charges and the recognition of prior-year losses that totaled more than $100mn and pushed underwriting margins into much further negative territory than a year ago.
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The carrier reported higher attritional losses in downstream energy, engineering and treaty.
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PIF grew, while auto margins and earned premiums contracted as the large personal lines carrier increased price competition.
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FedNat shed light on improvements in the Florida market following AOB reform, but emphasized the tort environment still presents problems and is driving the company to pursue growth outside the state.
