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A modest 2.9 percent increase in casualty was driven by excess liability and auto. -
The Chicago-headquartered insurer’s share price rose to $50.81 by the close of trading Monday.
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Good enough news on the top line was more than offset by weak cash generation and signs of slowing margin expansion.
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Insurance brokerage revenues rose 186 percent to $43mn in the fourth quarter, its listed parent says.
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Horace Mann released Q4 results with adjusted EPS of $0.75, beating consensus estimates.
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Highlights from the quarter included excess and surplus (E&S) growth of 25%.
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The carrier said rates were not responding adequately to claims and loss creep.
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The comments came as Chubb shares rose more than 6.3 percent following the release of fourth quarter results.
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Prominent in the results was also the lowest expense ratio for 13 years at 36.1 percent.
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Hanover reported Q4 earnings with the lowest expense ratio in over a decade, following a similar improving trend at WR Berkley and Travelers.
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Notably, RNR also announced it raised an additional $925mn for its third-party vehicles—Medici, Vermeer, and Upsilon.
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Key takeaways include continued benign frequency and long-term ROE guidance ranges from 14-17 percent.
