Stocks
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The latest short interest data shows continued pessimism on InsurTechs and Florida insurers. -
James River’s stock price plummeted more than 30% on Thursday, after the firm sustained downgrades from equity analysts over concerns around the insurer’s E&S casualty reserves.
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Broker and commercial carrier trends separate as inflation slows but rates stay elevated.
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As of 14:00 ET, the broker’s stock stood at $232.24 per share, 11.9% higher than the previous close of $207.74.
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The carrier has suffered five quarters of losses, largely spurred on by hefty natural catastrophe losses.
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Inside P&C’s news team runs you through the key highlights of the week.
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Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.
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The investor’s stake in WTW is now valued at roughly $120mn, while its position the prior quarter was worth around $423mn, according to its Q1 13-F filed with the SEC.
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Inside P&C’s news team runs you through the key highlights of the week.
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Differences in business mix and definitions yield differing trajectories for brokers, but in the absence of a recession, we may see continued margin improvement.
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CinFin lead the outperformers, while Aon and The Hartford's shares dropped sharply.
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