They already reduced staff at their PA operations not long ago. If cash flow underwriting is their model for the coming years, attempting to bring in cash to brighten their income statement, with a low stock price, they can afford to buy back stock now but will they be able to fend off buyers later on?
It makes you wonder if anyone out there has ever heard of the underwriting cycle before. High price/low price/sell off. I always am fooled into thinking that we might learn our lesson, but after several of these cycles I should know better. Talk about not learning from history.
I saw this coming years ago. Ever since their ill advised reorg. in ’06, Harleysville has been a good company to be from. I jumped ship when the getting was good and haven’t regretted it for a minute.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
They already reduced staff at their PA operations not long ago. If cash flow underwriting is their model for the coming years, attempting to bring in cash to brighten their income statement, with a low stock price, they can afford to buy back stock now but will they be able to fend off buyers later on?
It makes you wonder if anyone out there has ever heard of the underwriting cycle before. High price/low price/sell off. I always am fooled into thinking that we might learn our lesson, but after several of these cycles I should know better. Talk about not learning from history.
I saw this coming years ago. Ever since their ill advised reorg. in ’06, Harleysville has been a good company to be from. I jumped ship when the getting was good and haven’t regretted it for a minute.