Signs point towards worse than 4th quarter 2022 thus far. But there is still March to go.
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I think we need to give transformative growth a chance.
Company is great at using CAT losses as a headline or diversionary tactic. However, Wall Street understands the volatility in HO line of business, and pays little attention. Auto profitability is the drag here with higher severity and lagging premium increases. And given senior leaderships stated objective of Profitable Market Share growth, can we all agree their evaluations should be Unacceptable? There are neither profits or growth. Same outcome every time we declare a major growth initiative.
That's impossible at this point. No majority cats and return on investments way better than any 2022 quarter
How about they realize that customers can't have 100% increase in price over a four year period. Or auto start in 2019 for 2 cars $800, 2020 $890 - 2021 $1,040 - 2022 $1,200 with no claims and good credit. Then they get a quote from another place and it $890 in 2023. They kleep making business leave by never giving a break or how about a flat renewal. 20 million bonus dividedd into 30,000 is $600 per customer. If they did one year flat renewal but no they keep raising