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Interim CEO Kevin Rehnberg begins his tenure in time-honored tradition when taking over a P&C company at a “challenging” time: reserve charges, impairment charges and higher loss picks.
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Interim CEO Kevin Rehnberg said the results were “clearly unacceptable”. -
The carrier is seeing increasing submission levels and “much improved pricing” in facultative reinsurance.
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Everest echoed our skepticism from Monday about social inflation versus long-term mean reversion for loss trends on its Q4 earnings call.
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Watford Re reported a loss per share of $0.79 versus the loss of $4.2 YoY.
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Arch reported operating EPS of $0.74 last night, beating analyst estimates of $0.68/sh.
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The #1 broker’s proprietary pricing index showed an 11% rate increase as the firming accelerated in Q4 at all major global regions and lines of business.
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The executive told analysts that reinsurance rates are starting to climb in certain areas, offering opportunities.
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Kemper pointed to divergent competitive trends between non-standard and preferred.
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Mercury General reported improved YoY earnings but a notable increase in frequency.
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Everest reported Q4 operating EPS of $3.20/sh, easily beating analyst estimates, albeit against a consensus that had the benefit of pre-announced cat losses.
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Perhaps the most interesting takeaway was another red flag on medmal.
