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In June, this publication revealed that Apollo had appointed Evercore and Howden to run a process. -
Analysis of market conditions, reserves show that this might not lead to an overnight consolidation boom.
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The other liability loss ratio continued to rise as workers’ comp and commercial auto reversed course.
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Full-stack carriers fail to outclass incumbents with no clear platform differentiation.
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Ongoing pricing headwinds stand to weigh on carriers’ returns and valuations.
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Reinsurers are mostly aligned on cat reinsurance, but goals are otherwise diverse.
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The regional insurer has increased its weighting to OLO and commercial auto, versus comp.
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Catastrophe losses in Q1 exceeded $50bn, the second highest on record.
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Inflation indices fell in April, but some items related to P&C are still elevated.
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Growth and returns on equity fall, but most of the industry is still profitable.
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P&C held up better than the S&P 500, but there are causes for longer term concern.
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Imported goods account for 30%-50%+ of materials used for HNW homes, versus 15%-25% in standard houses.
