Upbound Group (UPBD) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Company Participants Jeff Chesnut - SVP - Strategy, Corporate Development, Treasury, IRMitch Fadel - CEOFahmi Karam - Executive VP & CFOBrad Thomas - Associate Director of ResearchBobby Griffin - Managing DirectorJohn Rowan - Managing DirectorCarla Casella - Managing DirectorKyle Joseph - Managing Director Conference Call Participants Hoang Nguyen - Equity Research AnalystAnthony Chukumba - Managing Director & Senior Research AnalystWilliam ...

The Hanover Insurance Group (THG) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Oksana Lukasheva - Senior Vice President of Corporate Finance John Roche - President & CEO Jeffrey Farber - Executive VP & CFO Richard Lavey - EVP & COO Bryan Salvatore - EVP & President of Specialty Meyer Shields - Managing Director Conference Call Participants Michael Phillips - Managing Director and Insurance Analyst Paul Newsome - MD & Senior Research Analyst Michael Zaremski - Managing Director & Senio ...

AXIS Capital (AXS) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Company Participants Cliff Gallant - Head of Investor Relations & Corporate DevelopmentVincent Tizzio - President & CEOPeter Vogt - CFOAndrew Kligerman - Managing DirectorHristian Getsov - VP - Equity Research (Insurance)Meyer Shields - Managing DirectorAndrew Andersen - Equity Research Vice PresidentCharlie Lederer - Vice President - Equity Research Conference Call Participants Josh Shanker - Analyst Operator Please note this event is being ...

AXIS Capital (AXS) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Speaker0 Please note this event is being recorded. I would now like to turn the conference over to Clifford Gallant, Investor Relations. Please go ahead. Speaker1 Thank you. Good morning, and welcome to our first quarter twenty twenty five conference call. Our earnings press release and financial supplement were issued last night. If you would like copies, please visit the Investor Information section of our website at axiscapital.com. We set ...

AXIS Capital (AXS) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Company Participants Cliff Gallant - Head of Investor Relations & Corporate DevelopmentVincent Tizzio - President & CEOPeter Vogt - CFOAndrew Kligerman - Managing DirectorHristian Getsov - VP - Equity Research (Insurance)Meyer Shields - Managing DirectorAndrew Andersen - Equity Research Vice PresidentCharlie Lederer - Vice President - Equity Research Conference Call Participants Josh Shanker - Analyst Operator Please note this event is being ...

Everest Group (EG) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Matthew Rohrmann - Senior VP & Head of Investor RelationsJim Williamson - President & CEOMark Kociancic - EVP & CFOAndrew Andersen - Equity Research Vice PresidentC. Gregory Peters - Managing Director - InsuranceMeyer Shields - Managing DirectorElyse Greenspan - Managing DirectorBrian Meredith - Managing Director Conference Call Participants Alex Scott - Equity Research AnalystJoshua Shanker - Managing Director & Equity A ...

Everest Group (EG) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Speaker0 Please note this event is being recorded. I would now like to turn the conference over to Matthew Rohrman, Head of Investor Relations. Please go ahead. Speaker1 Thank you, Jason. Good morning, everyone, and welcome to the Everest Group Limited First Quarter of twenty twenty five Earnings Conference Call. The Everest executives leading today's call are Jim Williamson, President and CEO Mark Kosciansik, Executive Vice President and CFO ...

Core Viewpoint - Arch Capital Group Ltd. (ACGL) reported a first-quarter 2025 operating income of $1.54 per share, exceeding the Zacks Consensus Estimate by 12.4%, although it represented a 37.1% decline year over year. The results were supported by higher premiums in the Insurance and Reinsurance segments and improved net investment income, but were negatively impacted by poor underwriting income and increased catastrophic losses [1]. Premiums and Income - Gross premiums written increased by 8.9% year over year to $6.4 billion, while net premiums written rose by 10.5% year over year to $4.5 billion, driven by higher premiums in both Insurance and Reinsurance segments [2]. - Net investment income grew by 15.6% year over year to $378 million, although it fell short of the estimate of $436.2 million, influenced by a reduction in investable assets due to a $1.9 billion special cash dividend paid in December 2024 and higher investment expenses [3]. Revenue and Losses - Operating revenues reached $4.5 billion, marking a 21.2% increase year over year, but missed the Zacks Consensus Estimate by 0.9%. Pre-tax current accident year catastrophic losses amounted to $547 million, significantly higher than the previous year's loss of $58 million. Underwriting income declined by 43.3% year over year to $417 million [4]. - The combined ratio, indicating the percentage of premiums paid out as claims and expenses, worsened by 1,130 basis points to 90.1, compared to the estimate of 94.5 [5]. Segment Performance - In the Insurance segment, gross premiums written rose by 24.4% year over year to $2.6 billion, with net premiums written climbing 25.4% to $1.9 billion, driven by new business opportunities and rate changes, despite competitive market pressures [6]. - The Reinsurance segment saw gross premiums written increase by 0.8% year over year to $3.5 billion, while net premiums written rose by 2.2% to $2.3 billion, primarily due to rate increases and growth in existing accounts, although offset by reductions in specialty lines [7][8]. - The Mortgage segment experienced a decline, with gross premiums written dropping by 4.4% year over year to $326 million and net premiums written decreasing by 4% to $266 million, attributed to lower mortgage originations [9]. Financial Position - As of March 31, 2025, the company had cash of $1.2 billion, a 21.2% increase from the end of 2024. Debt remained flat at $2.7 billion. Book value per share was $55.15, up 3.8% from the end of 2024, while annualized operating return on average common equity contracted by 920 basis points year over year to 11.5% [11].

Financial Data and Key Metrics Changes - For Q1 2025, the company reported net income of $8.9 million or $0.47 per diluted share, down from $16.9 million or $0.88 per diluted share in Q1 2024 [12] - Operating net income decreased to $11.4 million or $0.60 per diluted share from $13.3 million or $0.69 per diluted share year-over-year [12] - Gross written premiums increased by 4.6% to $83.8 million compared to $80.1 million in Q1 2024 [12] - Net premiums earned rose by 60 basis points to $68.9 million from $68.4 million in the prior year [13] - The expense ratio increased to 29.9% from 27.3% due to higher expenses related to business investments [13][14] Business Line Data and Key Metrics Changes - Premiums on policies written in the quarter grew by 7.1% compared to the prior year quarter [8] - Policy retention rate was strong at 93.1% in Q1 2025, contributing to policy count growth [9] - The company experienced $5 million from payroll audits and other premium adjustments, down from $6.4 million in the previous year [10] Market Data and Key Metrics Changes - The competitive environment remains strong, driven by declining workers' compensation rates and challenges in other property and casualty lines [6] - The company noted that economic conditions affecting payrolls could influence premium levels, with factors such as unemployment and wage inflation being monitored closely [7] Company Strategy and Development Direction - The company is focused on incremental growth within its existing geographic footprint and risk appetite, leveraging relationships with agents and policyholders [6] - The management emphasized the importance of proactive claims handling, which contributed to favorable case development [11] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding economic uncertainties, including tariffs and inflation, but noted that niche industries have historically performed well during mild recessions [7] - The company expects favorable frequency trends to continue, with modest severity trends anticipated [11] Other Important Information - The investment portfolio is of high quality, with an average credit rating of double A minus and a duration of 4.48 years [15] - Book value per share was reported at $13.69, with a statutory surplus of $243.6 million, up 3.6% from the previous year [16] Q&A Session Summary Question: Audit premium impact on previous quarters - Management provided audit premium figures for the previous year: Q1 was $6.4 million, Q2 was $7.3 million, Q3 was $4 million, and Q4 was $2.5 million [22][24] Question: Impact of recent hurricanes on work activity - A slight increase in audit premiums was noted in rebuilding classifications in North Carolina and Georgia, but not significantly in Florida [26] Question: Potential tariff impacts on business - Management speculated that tariffs could impact medical costs, particularly in pharmacy and durable medical equipment, but the overall effect on premiums would depend on whether costs are passed through to customers [30][31] Question: Changes in competitive dynamics - No significant changes in competitive dynamics were reported in the first quarter [35][36] Question: Expense ratio and future expectations - The increase in the expense ratio was attributed to investments for growth, with expectations that costs will moderate throughout the year [37] Question: Trends in state loss costs - The trend of declining rates continues, with average decreases expected to be in the 6% to 8% range [39][40] Question: Medical inflation and physician care costs - Increases in physician care costs were noted, attributed to labor costs rather than tariffs [41][42] Question: Industry redundancy and loss costs - Management anticipated that overall redundancy in the industry should be declining, with concerns about confidence in more current accident years [45][46] Question: Wage inflation trends - Wage inflation indications are slightly above the national average, with a potential increase in employee count [48][49] Question: Large losses in the quarter - Only two large losses were reported, which is below trend [56]

NMI (NMIH) Q1 2025 Earnings Call April 29, 2025 09:45 PM ET Speaker0 Good day, and welcome to the NMI Holdings, Inc. First Quarter twenty twenty five Earnings Conference Call. Please note this event is being recorded. I would now like to turn the conference over to John of Management. Please go ahead. Speaker1 Thank you, operator. Good afternoon and welcome to the twenty twenty five first quarter conference call for National MI. I'm John Swenson, Vice President of Investor Relations and Treasury. Joining us ...