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The company narrowly beats the consensus EPS forecast as expansion in both broker segments accelerates. -
Mid-year M&A including the aviation deal increased the broker’s margin by about 50 bps.
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The broker reported the same year-on-year organic growth figure of 5.8 percent, as EPS surged to $0.58.
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The broking CEO says insurers have “blood in their eye” as he predicts rate growth will continue.
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CEO Albert Benchimol met the firm’s recent underperformance head on and acknowledged the company “did not deliver the financial results expected in 2019”.
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Progressive reported a surprise positive December report, ending a sequence of seven negative months in a row.
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The company narrowly beats expectations as it reports a 17 percent rise in operating profit.
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The carrier predicts fiscal first-half reserve releases equivalent to 1.3 percent of NEP.
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In total, 184 InsurTechs have failed over the last three years.
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The carrier’s share price fell to $21.16 per share at close of markets.
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Brown & Brown's Q4 earnings release included improved organic growth of 5.2% that exceeded analyst expectations and the company’s own guidance of 2.9% telegraphed in Q3.
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WR Berkley reported Q4 op. EPS of $0.71 versus $0.63 YoY and a dead meet to consensus.
