Workflow
Catastrophe
icon
Search documents
LIVE: Texas Gov. Abbott delivers remarks after deadly flooding | NBC News
NBC News· 2025-07-06 17:57
Watch live coverage as Texas officials hold a press conference on the deadly flooding in Kerr County after heavy rains caused the Guadalupe River to rise rapidly. Texas Gov. Greg Abbott called the flooding an “extraordinary catastrophe.” For more context and news coverage of the most important stories of our day, click here: https://www.nbcnews.com » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCNews NBC News Digital is a collection of innovative and po ...
Here's Why You Should Retain Verisk Stock in Your Portfolio Now
ZACKS· 2025-06-19 15:41
Core Insights - Verisk Analytics, Inc. (VRSK) stock has increased by 13.9% over the past year, outperforming the Business - Information Services industry growth of 9.1% and the Zacks S&P 500 composite rise of 8.3% [1] Financial Performance - VRSK's revenues are projected to grow by 6.7% in 2025 and 7% in 2026, while earnings are expected to rise by 6.2% in 2025 and 11% in 2026 [3] - The company has a long-term earnings per share growth rate estimated at 11.4% [3] - In Q1 2025, VRSK reported revenues of $753 million, reflecting a 7% increase overall and a 7.9% increase on an organic constant-currency basis [4][8] - Underwriting revenues grew by 6.8% (7.2% OCC), driven by strong performance in various services [4] - Claims revenues increased by 7.5% (9.6% OCC), highlighting growth in property estimating and anti-fraud solutions [5] Strategic Developments - The introduction of the SRCC model enhances political violence risk modeling, allowing insurers to utilize a forward-looking approach [6] - Verisk's acquisition of Nasdaq's Risk Modelling for Catastrophes (NRMC) in April 2025 strengthens its catastrophe risk modeling capabilities [7][9] - NRMC provides access to over 300 third-party and custom models, enhancing risk analysis across the insurance value chain [9] Shareholder Returns - VRSK has consistently returned value to shareholders, paying over $188 million in dividends annually since 2021 and increasing share repurchases from $475 million in 2021 to $2.8 billion in 2023 [10] - In Q1 2025, the company returned more than $250 million to shareholders through dividends and repurchases, and initiated a $200 million Accelerated Share Repurchase program [10][11]
United Insurance(ACIC) - 2025 Q1 - Earnings Call Transcript
2025-05-08 22:02
Financial Data and Key Metrics Changes - American Coastal Insurance reported a net income of $21.3 million, with core income at $20.7 million, a decrease of $3.7 million year-over-year due to increased policy acquisition costs [10] - The company achieved a combined ratio of 65%, aligning with its target, while the non-GAAP underlying combined ratio was 68.2% [10] - Cash and investments grew by 5.2% to $540.8 million, reflecting a strong liquidity position [11] - Stockholders' equity increased by 10.7% to $260.9 million, driven by first-quarter income, with book value per share rising to $5.4, a 10.4% increase from year-end 2024 [12] Business Line Data and Key Metrics Changes - Policies in force grew approximately 6% since year-end, with gross premiums written increasing by over 7% compared to the same period last year [4][10] - The underwriting environment for newer, well-maintained, low-rise, garden-style condos in Florida remains healthy and competitive, with the company open to new business [5] Market Data and Key Metrics Changes - The Florida condominium market is facing challenges related to declining affordability and resale values, but these issues are not significantly impacting the company's business [4][5] - The company is focused on maintaining competitive rates while managing risk, particularly in the Tri County area [19] Company Strategy and Development Direction - The company is increasing its internal quota share from 30% to 45%, which will feed more business to its captive, enhancing its balance sheet [39] - The company is cautiously expanding into the apartment building market, averaging about 15 policies per month, with an average premium of over $100,000 [28][29] - Management emphasizes a selective approach to growth in the apartment initiative, aiming for underwriting returns similar to those achieved in the condo segment [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong reserve position and the effectiveness of its catastrophe reinsurance program, which is expected to increase aggregate protection significantly [11][12] - The company is adopting a more conservative view of hurricane risk, leading to increased protection purchases this year [7] Other Important Information - The company reported a risk-adjusted reinsurance rate decrease of approximately 12%, consistent with the rate decreases shared with policyholders [9] - The company is currently finalizing a new top layer of its catastrophe reinsurance program, which is expected to enhance its coverage [6] Q&A Session Summary Question: Can you explain the rate trend and deductible chart? - Management clarified that the average account rate has been stable, with a decrease from record high levels, but remains healthy at approximately $0.97 as of March 31 [16][18] Question: What has changed regarding the reinsurance program? - Management noted a significant reduction in reinstatement costs from approximately $13 million last year to about $5 million this year, and improvements in coverage for third events [22][23][25] Question: How is the apartment building initiative progressing? - Management reported averaging about 15 policies per month in the apartment initiative, with a focus on maintaining underwriting standards and risk characteristics [28][30] Question: What are the plans for quota sharing going forward? - Management indicated satisfaction with the current quota share structure and mentioned the possibility of further reductions depending on reinsurance costs and availability [37][39] Question: Can you discuss the Amrisk management fee changes? - Management explained that a profit-sharing component was added to the Amrisk agreement, along with a 1% increase in the total percentage of fees, primarily passed on to producers [40][41]
The Hanover Insurance (THG) - 2025 Q1 - Earnings Call Transcript
2025-05-01 14:00
The Hanover Insurance Group (THG) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Speaker0 Please note that this event is being recorded. I would now like to turn the conference over to Oksana Lukashova. Please go ahead. Speaker1 Thank you, operator. Good morning and thank you for joining us for our quarterly conference call. We will begin today's call with prepared remarks from Jack Roche, our President and Chief Executive Officer and Jeff Farber, our Chief Financial Officer. Available to answer your questi ...
The Hanover Insurance (THG) - 2025 Q1 - Earnings Call Transcript
2025-05-01 14:00
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 ...
Verisk Unveils First-of-Its-Kind SRCC Catastrophe Model for the U.S. to Quantify Political Violence Risks
Globenewswire· 2025-04-30 09:15
Core Insights - The insurance industry has faced over USD 10 billion in insured losses from strikes, riots, and civil commotion (SRCC) since 2010, significantly higher than the less than USD 1 billion attributed to terrorism [1][2] - Verisk has introduced the first catastrophe model specifically for SRCC events in the U.S. to help insurers quantify financial impacts and enhance risk management strategies [1][4] Group 1: Financial Impact of SRCC Events - Since 2010, global insured losses from SRCC events exceed USD 10 billion, while terrorism-related losses are below USD 1 billion [2] - In the last six years, five SRCC events have each caused over USD 1 billion in global insured losses [2] - The U.S. has experienced approximately USD 3 billion in insured losses from SRCC events [2] Group 2: Verisk's SRCC Model - The SRCC Model features a 500,000-year stochastic catalog that assesses the frequency and severity of unrest across every ZIP Code in the U.S. [3] - The model evaluates key risk drivers, including social and economic trends, political factors, and historical protest patterns [3] - It aims to provide enhanced insights for exposure management and catastrophe modeling, moving beyond traditional historical data [3] Group 3: Underwriting and Risk Management - Verisk's SRCC Model is designed to empower insurers to improve underwriting strategies and make informed decisions regarding pricing, capital allocation, and risk management [4] - The model combines nearly 40 years of catastrophe modeling expertise with over 15 years of experience in quantifying political violence [4] - It allows insurers to estimate potential insured losses, create robust underwriting guidelines, and assess tail risk through plausible extreme scenarios [6]