Big stock move (+5.6%) following "better than expected" earnings per share. The profit improvement plan executed flawlessly with disciplined auto rate increases and underwriting. The chief claim officer no doubt plays a critical role in any improvements to underlying combined ratios. What now? Buy, sell, or hold as further AI and cost reductions are pursued? P&C growth in policies very limited, but overall revenue and profit supports dividend and share buybacks.
9 replies (most recent on top)
Who dat vp?
@ee no idea but the standard (in US) is 8 weeks plus two weeks per year of tenure. 8 weeks is standard as some states require employers to notify 60 days before a layoff event is going to occur.
The question isn’t profitability, they priced themselves to profitability, it becomes revenue growth thru policy growth not premium growth. Those are the numbers that will be where focus is on and where investors are ultimately going to hone in with profitability in check. If you cannot grow, your stock price will eventually reflect it, so dividends and stock buy back is how you talk to the investment community about creating shareholder value. Policy growth correlates to price and to have an attractive price you reduce expenses and improve loss cost to pay for it. Pricing sophistication especially in the direct business probably has a ways to go before it becomes your 3rd lever.
It's de ja vu all over again. Don't we usually hear something like this 2nd quarter/summer time just before the 'manager's meeting' in Chicago, followed by the 3Q 'record earnings' rah rah followed by the yearly round of reimagining people right out of the company?
The myopic seals clap every time too.
Former Avail: How much tenure to be laid off with severance?
I just want to be laid off and collect that severance
Wondering news!
Funny because all we heard today was how we are behind goals.
Auto vp is driving everyone nuts
Hard to argue with results. Don’t see too many $2b plus profits for quarter. Well done. Will Mother Nature have huge q3 impact?