Re/insurers
-
More than 33,000 claims had been filed as of 5 February. -
Insurance stocks are lukewarm amid earnings season, cats and political changes.
-
The carrier’s year-end kitchen sink action is a make-or-break moment for a troubled franchise.
-
The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
-
Most carriers paid more in homeowners’ claims than they collected in premiums.
-
Year-end reserving, Milton and wildfires will dominate Q4 earnings discussions.
-
New CEO Williamson will likely continue walking the hybrid path, with an emphasis on fixing US casualty.
-
Most insurers outperformed the S&P 500 last year, but the trend is unlikely to continue.
-
Investigators are homing in on the likely causes of the incidents.
-
This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
-
Moody’s also expects losses in the billions of dollars.
-
Six fires now cover more than 27,000 acres across Southern California.
