Research series

When Playing "The Price Is Right", The First is Always The Worst

The brokers' Q1 comments reinforce the tough trade-offs facing insurance intermediaries following the solid Q1 results but dim 2020 outlook.

IPC Research, May 01, 2020

Aon goes nuclear = it’s worse than you think

After a surprisingly positive start, new data points emerging from Q1 earnings are skewing negative. In fact, the drip-drip of bad news is starting to become a stream.

IPC Research, April 27, 2020

Q1:20 Meditations In An Emergency – A Five Step Covid Playbook

With Q1 results kicking off on Tuesday with Chubb, Travelers, WR Berkley, and RLI, we see the set-up in P&C as skewed to the downside for the foreseeable future.

IPC Research, April 19, 2020

A black swan moment for levered roll-ups

We view current economic conditions manifesting as a potential “out of sample” problem the highly levered agent roll-up model has not anticipated.

IPC Research, April 16, 2020

P&C stocks underperformed the market during Covid-19 selloff

P&C stocks underperformed all sectors outside financials and energy in March.

IPC Research, April 07, 2020

Aon-Willis: Markets are pricing in the likelihood of no deal

The stock price movements of Aon and Willis Towers Watson since their mega-merger was announced suggests investors are proceeding with caution ahead of possible shareholder and regulatory opposition.

IPC Research, March 27, 2020

Aon-Willis: A strategic coup, but an unfair price

The deal has both sound financial and strategic rationale. But is it a fair deal? Not exactly.

Dan Lukpanov, March 12, 2020

2020: A 'Prove-It' Year for Bermuda Independents?

Aspen and Argo hang over the Bermuda market, offering a parable of potential consequences for the remaining Bermuda “independents” in a make-or-break year.

IPC Research, March 09, 2020

Hard Market Watch: CIAB Q4 Edition

The takeaways from CIAB's Q4 survey were continued rate increases in line with market intelligence from companies.

IPC Research, March 05, 2020

Progressive: Let the Omni-wars begin

Following decades of significant market share growth, Progressive faces increasingly cost-efficient competition from large carriers, while its new TAM places the firm in a competitive agency channels.

Gianluca Casapietra, March 02, 2020

Market plunge drags down P&C stocks

Last week, the global spread of the coronavirus spooked investors, causing a sharp drop in risk assets globally.

Dan Lukpanov, March 01, 2020

Berkshire: Ludicrous earnings, but less healthy P&C

Warren Buffett’s conglomerate reported ludicrous headline net earnings, but with a less healthy story in insurance with lower favorable development and notable deterioration of results at Geico.

IPC Research, February 24, 2020