Industry-wide
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With the exception of InsurTechs, short interest movement was muted in the absence of material catalysts.
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Personal auto carriers lowered rates in response to 2020’s loss cost trends, but chasing market share now could be a mistake.
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Consumer Price Index data points to short-term and long-term risks to the P&C industry.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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Short interest data shows an incremental uptick in short interest for InsurTechs, with slight declines for the brokers.
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New CEOs were not able to consistently create higher book value growth than their predecessors, and any growth achieved wasn’t maintained after five years.
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P&C stock movement in May centered on pricing commentary and economic recovery, with little impact from the forecast above-average hurricane season.
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With the property casualty industry flush with capital, continuing to hold the line on rate rises will likely be challenging.
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Century Equity Partners and WT Holdings are backing the new venture.
