Stocks

This would be a premium to Root’s closing price on Tuesday of $6.02 per share, which gives the company a market value just north of $80mn, significantly below its peak of roughly $7.5bn.

Inside P&C’s news team runs you through the key highlights of the week.

InsurTechs are still the most heavily shorted among P&C names, though they likely have been beneficiaries of a short squeeze for most of 2023.

Inside P&C’s news team runs you through the key highlights of the week.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Recent top line growth and improved performance will need to be weighed against historical underperformance at group level, but the opportunity could attract a non-traditional buyer.

Need to Know

The carrier is offering 65 million shares of common stock, out of approximately 648 million total shares outstanding.

Forecasts for “near-normal” activity may mean the chance at a reprieve for the Florida market, but a history of underestimates warrants caution.

Onex reduced its position in the wholesaler by almost two-thirds to nearly 3.7% from around 11.3%, while president Tim Turner sold ~700,000 of his nearly 4.9 million shares.

The current status of debt ceiling discussions, or lack thereof, are rattling markets, but select P&C insurers look strong in a relative sense.

Inside P&C’s news team runs you through the key highlights of the week.