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Reinsurers, commercial and specialty carriers stocks edge down after Hurricane Ida, in line with dip in S&P Insurance Index. -
Pressure on the InsurTechs – specifically Root and Lemonade – is intensifying.
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The classic car insurer is expected to trade under the ticker HGTY.
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The recent SPAC listings of Hippo and Doma have been subject to significant outfluxes of capital.
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The venture capital firm is seeking a sustainable portfolio rather than firms ‘looking toward the next funding round’.
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InsurTech short interest dwarfs legacy insurers as they come under pressure to produce profits.
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The business acts as a transformer, allowing traditional asset managers the chance to participate on collateralised (re)insurance transactions.
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InsurTech stocks fall in Thursday trading following Lemonade Q2 results.
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The wholesale broker’s shares were up by about 8% on the day in the early afternoon, changing hands at $27.81 a share.
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A vote on July 29 is expected to be less nerve-racking than once predicted, with investor appetite warming on the prospect of InsurTech SPAC mergers.
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As part of expansion plans, Kin has also signed a stock purchase agreement to acquire an inactive insurance carrier that holds licenses in more than 40 states.
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Progressive fell 3.2%, after the company indicated in its June earnings update that net income per share had dropped 56% in Q2.
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