Key Takeaways CRBG is reinsuring its entire $51 billion variable annuity block in a $2.8 billion deal with CS Life Re. The move will generate $2.1 billion in net distributable proceeds after taxes and reduce tail risk exposure. CRBG boosts share buyback plan by $2 billion, with most proceeds earmarked for repurchases.Corebridge Financial, Inc. (CRBG) recently inked a deal with a subsidiary of Venerable Holdings, Inc., CS Life Re, to reinsure the entire block of variable annuities within its Individual Ret ...

Key Takeaways HRTG is resuming selective personal lines underwriting while focusing on E&S growth and rate discipline. HCI is expanding via Citizens policy takeouts and has launched a second reciprocal insurer, Tailrow. HCI plans a tax-free spin-off of Exzeo to unlock tech value. HRTG initiates a $10M share buyback.Despite the rise in catastrophic events, the property and casualty (P&C) insurance industry is poised for continued growth, fueled by a shift toward personalized offerings and enhanced customer ...

Heritage Insurance (HRTG) Conference June 11, 2025 01:00 PM ET Speaker0 Heritage Insurance. The ticker is h r t g. Joining us from the company, we have CEO, Ernie Guerretae and CFO, Kirk Lusk. And before I hand it over, a quick reminder, the Q and A tab is located at the bottom of your screen. Feel free to type in any questions throughout presentation, and we can save time for q and a at the end. But with that said, Ernie, take it away. Speaker1 Appreciate it. Thank you, Brandon. So thank you, everybody, fo ...

Industry Overview - The property and casualty insurance industry is projected to grow despite an increase in catastrophic events, driven by personalized products and digital innovation [1] - Higher premium volumes from solid policyholder retention, broader exposure, and favorable pricing are sustaining profitability for insurers [1] Kingstone Companies (KINS) - KINS is the 12th largest homeowner insurer in New York with a 2.1% market share in 2024, positioned to expand as the Northeastern U.S. commercial insurance market is expected to grow by 12.3% through 2025 [3] - The company is focusing on core operations and exiting underperforming segments while adhering to disciplined underwriting practices [4] - KINS has raised prices ahead of inflation, expecting direct written premiums from its core business to grow between 15% and 25% in 2025 [5] - The company aims to lower its net underwriting expense ratio, projecting an improved combined ratio of 81% to 85% in 2025 [6] - KINS has shown continuous improvement in net margin, expanding by 2560 basis points over the last two years, with a return on equity of 31.9%, significantly above the industry average of 7.8% [7] United Fire Group, Inc. (UFCS) - UFCS offers a diverse range of products and has a strong presence in the Midwestern U.S., though it faces geographic concentration risks [8] - The company is finalizing a new policy administration system to enhance efficiency and product management, with full implementation expected across various business units [9] - Core commercial new business production is growing, driven by prudent pricing and risk selection [10] - UFCS is experiencing continuous improvement in net margin, which expanded by 640 basis points in the last two years, with a return on equity of 9%, also above the industry average [12][11] Financial Estimates - The Zacks Consensus Estimate for KINS' 2025 revenues and EPS indicates a year-over-year increase of 31% and 37.9%, respectively [13] - For UFCS, the 2025 revenue estimate implies a 6.7% increase, while EPS indicates a 2.4% decline, although EPS estimates have improved recently [14] Valuation - KINS is trading at a price-to-book multiple of 2.68, above its five-year median of 0.82, while UFCS's price-to-book multiple is at 0.88, slightly above its median of 0.81 [15] - UFCS is considered more affordable than KINS, with both stocks carrying a Value Score of A [16] Conclusion - KINS is strategically positioned to tap into a market opportunity exceeding $200 million, focusing on core business expansion and improving pricing efficiency [17] - UFCS is viewed as a value opportunity with a diversified portfolio and steady premium growth, appealing to investors seeking stable, dividend-paying regional insurers [18]

TAMPA, Fla., June 02, 2025 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI) has successfully completed its catastrophe reinsurance programs for the 2025-2026 treaty year, which runs from June 1, 2025 through May 31, 2026. “We are grateful for the strong support from our global reinsurance partners, whose continued confidence in HCI underscores the quality of our underwriting and our disciplined approach to risk,” said Paresh Patel, HCI’s chairman and chief executive officer. “We believe our reinsurance progr ...

P&C Insurance Company Capitalizing on Unique Niche Market Opportunity to Achieve Profitable Growth Investor Presentation May 2025 NASDAQ: KINS DISCLAIMER & FORWARD- LOOKING STATEMENTS This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and ...

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]

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][5] - The underwriting environment for newer, well-maintained, low-rise, garden-style condos in Florida remains healthy and competitive, with the company passing on savings to policyholders through lower rates [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 [5] - The company is focused on the inland Florida market, which is less affected by the current media attention on high-rise waterfront condos [5] Company Strategy and Development Direction - The company is increasing its catastrophe reinsurance program, with an estimated first event limit expected to rise approximately 16% year-over-year to about $1.35 billion [6] - The company is cautiously expanding into the apartment building market, averaging about 15 policies per month, with an average premium of over $100,000 [30][31] - The company aims to maintain a selective approach in the competitive apartment market while ensuring underwriting returns similar to those achieved in the condo sector [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong reserve position and the effectiveness of its growth strategy, despite increased policy acquisition costs [10][11] - The management team highlighted the importance of maintaining rate adequacy in a competitive market, particularly in areas like Tri County [21] - The company is optimistic about its growth initiatives for 2025, supported by a strong balance sheet and favorable underwriting conditions [12] Other Important Information - The company is increasing its internal quota share from 30% to 45%, which will enhance its balance sheet and capital flexibility [40] - A profit-sharing component was added to the Amrisk management fee agreement, which is expected to benefit both parties [41] Q&A Session Summary Question: Can you explain the rate trend chart on page nine? - The average account rate has been stable, with a decrease from record high levels, currently at 97 cents, which is considered healthy relative to historical premiums [20] Question: What has changed regarding the third event cover in your reinsurance program? - The reinstatement exposure has been reduced from approximately $13 million last year to about $5 million this year, indicating a significant improvement [24] Question: How is the apartment initiative progressing? - The company has averaged about 15 policies per month in the apartment initiative, with premiums aligning with targets, although the market is competitive [30][34] Question: What are the plans for quota sharing going forward? - The external quota share will be 15% from June 1, 2025, to May 31, 2026, with potential for further reductions depending on reinsurance costs and availability [38] Question: Can you discuss the changes to the Amrisk management fee? - The management fee has increased by 1% of premium written, with most of the increase passed on to producers to maintain revenue levels in a softening market [42]

Lincoln National Corporation (LNC) Q1 2025 Earnings Call May 08, 2025 08:00 AM ET Speaker0 Good morning, and thank you for joining Lincoln Financial's twenty twenty five First Quarter Earnings Conference Call. At this time, all lines are in a listen only mode. Later, we will open the call for questions and instructions will be given at that time. Now I would like to turn the call over to Senior Vice President, Head of Investor Relations, Tina Madden. Please go ahead. Speaker1 Thank you. Good morning, everyo ...

International General Insurance Holdings (IGIC) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Speaker0 Please note this event is being recorded. I would now like to turn the conference over to Robin Sidders, Head of Investor Relations. Please go ahead. Speaker1 Thanks, Scott, and good morning, and welcome to today's conference call. Today, we'll be discussing our first quarter twenty twenty five results. We issued our press release last night, which you would have seen after the market closed. If you'd lik ...