And a couple of others with some interesting “insider” moves recently. Google stockholder or option moves by Hanover and cincinnati stockholders. What do you think? It looks like somebody is getting ready to cash in.
Last I heard of one company it was gown near 96 to 97 so you can’t tell me they weren’t making money.Through attrition and retirement cash ins bad market it has likely risen but does that warrant premium increases? I suppose in their eyes it does?
If the normal Joe screws up they have to alter their spending they can’t just hit their employer up for more money.
Rate Increases? You haven’t seen anything yet. Here they come in Personal Lines. These companies can’t run 110 combined in personal lines much longer. In fact I heard that Selective and Allied are hitting personal lines rates next?
unprofitable? how about soft market, return premiums on audit, lower exposures on renewals, and no money on investments. Oh, and a horrible storm season! Do I need to go on? I’ve heard that there are 4 or 5 regionals in the midwest that are really hurting. does anybody have any hard numbers? I mean, I’m hearing numbers like 105 to 110 combined for some of these carriers. (hint: specifically, regionals rooted in Iowa, MN, Wisconsin, and michigan)
Oh hard market, please, please, please. How long can Liberty Mutual and their regional markets carriers continue with a combined of 110? hopefully not long. We just had meetings with one of our top 3 – a super regional – and look-out they are ready to bust out. yes, I think that they are the one you’re talking about with the 96 in 2008, but I’m not saying any names. I don’t want to let out the secrets, and how hot they’re going to be when the others start falling by the wayside. (soon)
Right off the press: IN PLAY ! (source is Bloomberg)
Aug. 29 (Bloomberg) — Among property and casualty insurers, the steadiest profits are coming from the customer minnows, not the whales, helping to put more than a dozen companies in play.
Since Liberty Mutual Group Inc. agreed on April 23 to buy Safeco Corp. for $6.2 billion, or a premium of 51 percent, the shares of some of the industry’s smallest companies have outperformed those of their bigger competitors, signaling potential acquisitions.
Hanover Insurance Group Inc., HCC Insurance Holdings Inc. and Navigators Group Inc. have posted share gains since the Safeco deal was announced, compared with the 12 percent drop of the 91-stock Bloomberg U.S. Insurance Index. Travelers Cos., the second-biggest U.S. business insurer, and Hartford Financial Services Group Inc. both say they may seek acquisitions.
KBW analysts, including Farnam, say Hanover Insurance of Worcester, Massachusetts, Houston-based HCC and Navigators Group in New York are among at least a dozen potential targets. The research team correctly identified Philadelphia Consolidated as an acquisition candidate in a June 10 note..
Let’s start the For Sale list again. We all know the four or five that are on it – and we start on the East Coast, Ohio, or Iowa. But this is the first article I’ve read that says who the buyers are going to be. That means they’re talking.
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And a couple of others with some interesting “insider” moves recently. Google stockholder or option moves by Hanover and cincinnati stockholders. What do you think? It looks like somebody is getting ready to cash in.
Last I heard of one company it was gown near 96 to 97 so you can’t tell me they weren’t making money.Through attrition and retirement cash ins bad market it has likely risen but does that warrant premium increases? I suppose in their eyes it does?
If the normal Joe screws up they have to alter their spending they can’t just hit their employer up for more money.
Rate Increases? You haven’t seen anything yet. Here they come in Personal Lines. These companies can’t run 110 combined in personal lines much longer. In fact I heard that Selective and Allied are hitting personal lines rates next?
What do you think now nobody? I’m may not be entirely correct but now you have nothing to say!
unprofitable? how about soft market, return premiums on audit, lower exposures on renewals, and no money on investments. Oh, and a horrible storm season! Do I need to go on? I’ve heard that there are 4 or 5 regionals in the midwest that are really hurting. does anybody have any hard numbers? I mean, I’m hearing numbers like 105 to 110 combined for some of these carriers. (hint: specifically, regionals rooted in Iowa, MN, Wisconsin, and michigan)
Oh hard market, please, please, please. How long can Liberty Mutual and their regional markets carriers continue with a combined of 110? hopefully not long. We just had meetings with one of our top 3 – a super regional – and look-out they are ready to bust out. yes, I think that they are the one you’re talking about with the 96 in 2008, but I’m not saying any names. I don’t want to let out the secrets, and how hot they’re going to be when the others start falling by the wayside. (soon)
Right off the press: IN PLAY ! (source is Bloomberg)
Aug. 29 (Bloomberg) — Among property and casualty insurers, the steadiest profits are coming from the customer minnows, not the whales, helping to put more than a dozen companies in play.
Since Liberty Mutual Group Inc. agreed on April 23 to buy Safeco Corp. for $6.2 billion, or a premium of 51 percent, the shares of some of the industry’s smallest companies have outperformed those of their bigger competitors, signaling potential acquisitions.
Hanover Insurance Group Inc., HCC Insurance Holdings Inc. and Navigators Group Inc. have posted share gains since the Safeco deal was announced, compared with the 12 percent drop of the 91-stock Bloomberg U.S. Insurance Index. Travelers Cos., the second-biggest U.S. business insurer, and Hartford Financial Services Group Inc. both say they may seek acquisitions.
KBW analysts, including Farnam, say Hanover Insurance of Worcester, Massachusetts, Houston-based HCC and Navigators Group in New York are among at least a dozen potential targets. The research team correctly identified Philadelphia Consolidated as an acquisition candidate in a June 10 note..
Let’s start the For Sale list again. We all know the four or five that are on it – and we start on the East Coast, Ohio, or Iowa. But this is the first article I’ve read that says who the buyers are going to be. That means they’re talking.
You got it!
Told ya so!