Core Insights - Lemonade Inc (NYSE:LMND) stock reached a four-year high of $99.90 on January 22, driven by the announcement of its autonomous car insurance in collaboration with Tesla (TSLA) FSD models [1] - Despite a subsequent decline in stock price, the pullback may be temporary due to strong technical support levels, particularly around $70 and the ascending 100-day moving average [1] Technical Analysis - The stock is currently within 0.75 of its 100-day moving average's 20-day average true range (ATR), having remained above this level 80% of the time over the past two weeks and 80% of the last 42 trading sessions [2] - Historical data indicates that similar conditions have led to a 67% chance of LMND being higher one month later, with an average gain of 14.2%, suggesting a potential price target of $79.36 from the current level of $69.50 [2] Market Sentiment - A significant short interest of 19.4% of the stock's available float indicates potential for upward movement, as this represents nearly five days' worth of buying power [3] - The majority of analysts covering the stock (11 out of 14) have a "hold" or worse rating, indicating potential for upgrades and positive sentiment shifts [3]

Core Insights - Everest Group, Ltd. reported a fourth-quarter 2025 operating income of $13.26 per share, missing the Zacks Consensus Estimate by 0.8%, but showing a recovery from a loss of $18.39 in the previous year [1][7] - The company benefited from a strong Reinsurance segment and solid core fixed-income investment returns, although these positives were partially offset by weak performance in insurance businesses, higher expenses, and underwriting losses [1] Financial Performance - Total operating revenues for Q4 2025 were nearly $4.4 billion, a decline of 4.6% year over year, but exceeded the Zacks Consensus Estimate by 2.7% [4] - Gross written premiums fell 8.6% year over year to $4.3 billion, with strong growth in specialty lines offset by targeted reductions in casualty lines [4][7] - Net investment income rose 18.8% year over year to $562 million, significantly surpassing both the estimate of $330.6 million and the Zacks Consensus Estimate of $456.4 million [5][10] - Total claims and expenses decreased by 28.1% to $3.9 billion, primarily due to lower incurred losses and loss adjustment expenses [5] Segment Analysis - The Reinsurance segment generated gross written premiums of $3.2 billion, down 3.6% year over year, reflecting lower volumes in certain lines [8] - The Insurance segment posted gross written premiums of $1.1 billion, down 19.7% year over year, with declines in several lines offsetting higher premiums in Accident and Health [9] Capital and Equity - Everest Group ended Q4 2025 with total investments and cash of $45.4 billion, up 9.4% from the end of 2024 [10] - Shareholders' equity rose 11.4% year over year to $15.5 billion, and book value per share increased 10.8% to $379.7 [10] Full-Year Highlights - For the full year 2025, operating income per share surged 49.3% year over year to $44.54, beating estimates by 2.9% [12] - Total revenues rose 1.24% year over year to $17.5 billion, roughly in line with the Zacks Consensus Estimate [12] - Gross written premiums fell 2.9% year over year to $17.7 billion, lower than the estimate of $18.2 billion [12]

Core Viewpoint - Cincinnati Financial is recognized for its strong dividend performance, having increased its dividend for 66 consecutive years, making it one of the best dividend stocks available [2][3]. Dividend Performance - The company raised its quarterly dividend by 8% to $0.94 per share, marking the 66th consecutive year of dividend increases [2]. - Cincinnati Financial is classified as a Dividend King, being one of approximately 51 stocks that have increased dividends annually for at least 50 years [3]. Financial Metrics - The company has a solid dividend yield of 2.29% and a payout ratio of 44%, indicating a sustainable dividend policy [5]. - In the third quarter of the previous year, Cincinnati Financial reported a 12% year-over-year revenue growth and a 37% increase in net income, with a combined ratio of 88.2%, the lowest since 2015 [6]. Investment Outlook - The current market conditions suggest it is a favorable time to invest in dividend stocks, particularly Cincinnati Financial, as stock markets remain volatile [4]. - The average annualized return for Cincinnati Financial over the past five years is 14.2%, which increases to 16.6% when dividends are reinvested, highlighting the benefits of reinvesting dividends for total return [5].

Core Viewpoint - Zurich Insurance Group AG has made an increased bid of £8 billion ($11 billion) to acquire Beazley Plc, which has received tentative approval from Beazley's board [1][5]. Group 1: Bid Details - The revised cash proposal is set at 1,310 pence per share, up from 1,280 pence last month, and is agreed "in-principle" [2][5]. - Including a permitted dividend of up to 25 pence, the total value of the offer reaches 1,335 pence per share [2][3]. - The offer price represents a premium of nearly 60% over Beazley's closing share price prior to the public announcement on January 19 [3][10]. Group 2: Market Reaction - Beazley's shares surged by as much as 9% in early London trading and have increased by 54% since the bid was first made public [4][10]. - As of 8:53 a.m. in London, Beazley's shares were trading at 1,261 pence, below the offer price [4]. Group 3: Strategic Implications - The acquisition would create a "global leader" in specialty insurance with approximately $15 billion in gross written premiums based in the UK [5]. - Zurich has been pursuing Beazley for the past year, with this being its sixth bid, indicating a strong strategic interest [5][6]. - The deal aligns with Zurich's strategic priorities outlined during its investor day on November 18 [6]. Group 4: Beazley's Financials - Beazley reported net insurance written premiums of $5.2 billion in 2024 and $2.6 billion in the first half of 2025 [8]. - Premium income is diversified, with property and specialty risks each contributing around a third, and cyber and digital insurance accounting for about a fifth [8].

Core Insights - Arctic Wolf has been selected by Chubb as a preferred Managed Detection and Response (MDR) provider for its cyber policyholders with over 100 employees, highlighting a mutual commitment to reducing cyber risk [1][5] Group 1: Partnership Details - Chubb's decision to partner with Arctic Wolf is influenced by the effectiveness of the Arctic Wolf Aurora Platform, which significantly reduces the likelihood and impact of major cyber incidents [2] - The Aurora Platform processes over nine trillion security events weekly, consolidating thousands of daily alerts into an average of one actionable ticket per customer per day, thereby enhancing operational efficiency [2] Group 2: Service Offerings - Arctic Wolf operates global security operations centers across North America, EMEA, and APAC, providing 24/7 operations and local personnel to support its services [3] - The company has a dedicated "insurance alliance" team that collaborates with brokers and carrier partners to promote the adoption of their security products [3] Group 3: Cyber Threat Insights - Both the Q2 2025 Chubb Cyber Threat Intelligence Report and the 2025 Arctic Wolf Threat Report identify unsecured Remote Desktop Protocol (RDP) and compromised VPN credentials as primary causes of major cyber incidents like ransomware [4] - Arctic Wolf's Concierge Experience and Security Journey provide ongoing guidance to customers, helping them implement critical security controls to enhance their security posture and reduce risk over time [4] Group 4: Customer Benefits - Joint customers of Arctic Wolf and Chubb may qualify for preferred pricing and promotional benefits aimed at strengthening their security posture and mitigating cyber risk [6]

It's hard to find a track record of performance that matches what Warren Buffett did at Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). Taking a dying textile business and choosing it as the holding company for what is now a vast empire of all different kinds of enterprises might not have seemed like a likely recipe for success, but that didn't stop Buffett from turning Berkshire into a trillion-dollar market cap stock. The Voyager Portfolio has the stretch goal of coming even close to what Buffett achie ...

Results at December 31, 2025Press release Strasbourg, February 5, 2026 Driven by net revenue growth, Crédit Mutuel Alliance Fédéraleachieves historic net income of €4.2 billion in 2025 PERFORMANCE IN LINE WITH THE 2024-2027 STRATEGIC PLAN TARGETS: Record net income of €4.2 billion, up +2.3%, and +11.4% when excluding the income tax surcharge (€377 million).Record net revenue of €17.7 billion, up +6.7%.Customer acquisition in line with targets: 14.7 million banking customers (+166,000) and 7.6 million insure ...

Financial Data and Key Metrics Changes - In Q4, net income was $266 million or $3.29 per share, compared to $255 million or $3.01 per share a year ago, representing a year-over-year increase [4] - Net operating income for the quarter was $274 million, or $3.39 per share, an increase of 8% over the $3.14 per share from a year ago [4] - For the full year 2025, net operating income was $14.52, 2 cents above the midpoint of previous guidance [4] - Return on equity through December 31 was 20.9%, and book value per share was $74.17 [4][5] - Excluding accumulated other comprehensive income, return on equity is 16%, and book value per share as of December 31 is $96.16, up 11% from a year ago [5] Business Line Data and Key Metrics Changes - Total premium revenue in Q4 grew 5% over the year-ago quarter [7] - Life premium revenue for Q4 increased 3% from the year-ago quarter to $850 million [7] - Life underwriting margin was $350 million, up 4% from a year ago [8] - Health premium revenue grew 9% to $392 million, with health underwriting margin also up 9% to $99 million [8] - Administrative expenses were $92 million for the quarter, an increase of approximately 1% over the fourth quarter of 2024 [9] Market Data and Key Metrics Changes - In 2026, life premium revenue is expected to grow between 4% and 4.5%, while health premium revenue is expected to grow in the range of 14%-16% [8][18] - The average producing agent count trends for 2026 are projected as follows: American Income, mid-single-digit growth; Liberty National, high single-digit growth; Family Heritage, low double-digit growth [18] Company Strategy and Development Direction - The company focuses on providing financial security in the underserved lower-middle to middle-income market, which has significant growth opportunities [5][6] - The business model is designed to distribute basic protection products that are simple for agents and consumers to understand [5] - The company aims to maintain capital within its insurance operations at levels necessary to support current ratings, targeting a consolidated company action level RBC ratio in the range of 300%-320% [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model and its ability to continue growing, citing favorable mortality trends and premium growth [6][39] - For 2026, the company estimates net operating earnings per diluted share will be in the range of $14.95-$15.65, representing 5% earnings per share growth at the midpoint of the range [39] - The company anticipates total premium revenue growth of 7%-8% for 2026, with specific growth expectations for life and health premiums [40] Other Important Information - The company repurchased approximately 1.3 million shares for a total cost of approximately $170 million in Q4 [30] - The parent company began the year with liquid assets of approximately $90 million and ended the year with approximately $80 million [30] - The company finalized the licensing and formation of Globe Life Re Ltd, a Bermuda reinsurance affiliate, to reinsure a portion of new business and in-force life insurance policies [35] Q&A Session Summary Question: First-year lapses across various channels - Management acknowledged that first-year lapses for direct-to-consumer and Liberty National were higher than expected, attributing it to fluctuations and monitoring the situation closely [46] Question: Dynamics between MedSup and Med Advantage - Management noted that claim trends have stabilized and rate increases are expected to bring margins back to normal levels [49][50] Question: Sales growth and efficiencies - Management indicated that technology investments will continue to drive efficiencies and sales growth, with more enhancements expected in the coming years [58][60] Question: Remeasurement gains - Management explained that favorable mortality and lapse experience are driving remeasurement gains, with expectations for continued gains in the future [63] Question: Excess cash flow and GAAP vs statutory differences - Management clarified that excess cash flow guidance remains consistent, driven by solid statutory earnings and dividends to the parent company [68][71] Question: American Income agent count drop - Management stated that a drop in agent count is not uncommon in Q4 and discussed initiatives to improve agent retention [73]

Financial Data and Key Metrics Changes - In Q4, net income was $266 million or $3.29 per share, compared to $255 million or $3.01 per share a year ago, representing a significant increase [3] - Net operating income for the quarter was $274 million, or $3.39 per share, an increase of 8% over the $3.14 per share from a year ago [3] - For the full year 2025, net operating income was $14.52, 2 cents above the midpoint of previous guidance [3] - Return on equity through December 31 is 20.9%, and book value per share is $74.17 [3] - Excluding accumulated other comprehensive income, return on equity is 16%, and book value per share as of December 31 is $96.16, up 11% from a year ago [4] Business Line Data and Key Metrics Changes - Total premium revenue in Q4 grew 5% over the year-ago quarter, with life premium revenue increasing 3% to $850 million [5][6] - Life underwriting margin was $350 million, up 4% from a year ago, driven by premium growth and lower overall policy obligations [6] - Health insurance premium revenue grew 9% to $392 million, with health underwriting margin also up 9% to $99 million [6] - For 2026, life premium revenue is expected to grow between 4% and 4.5%, while health premium revenue is projected to grow in the range of 14%-16% [6][37] Market Data and Key Metrics Changes - The company serves the underserved lower-middle to middle-income market, with over 50% of Americans being underinsured, indicating a significant growth opportunity [4] - The Medicare Supplement business is experiencing strong sales activity and premium rate increases, contributing to the growth in health premium revenue [6][15] Company Strategy and Development Direction - The company focuses on providing financial security in the underserved market, distributing basic protection products designed to meet the needs of this demographic [4] - The company aims to leverage technology investments to enhance agent productivity and sales growth [56] - The strategy includes maintaining pricing for profitability rather than chasing market share, ensuring long-term stability [82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model and its ability to continue growing, citing favorable mortality trends and premium growth [5][36] - The company anticipates continued strong performance in the Medicare Supplement market due to dynamics in the Medicare Advantage space [48] - For 2026, the company expects net operating earnings per diluted share to be in the range of $14.95-$15.65, representing 5% growth at the midpoint [36] Other Important Information - The company repurchased approximately 1.3 million shares for a total cost of approximately $170 million in Q4 [28] - The parent company anticipates excess cash flow to increase to approximately $625 million-$675 million in 2026 [29] Q&A Session Summary Question: First-year lapses across various channels - Management acknowledged that first-year lapses were higher than expected, particularly in direct-to-consumer and Liberty National, but viewed it as fluctuations to monitor [41][42] Question: Dynamics between Medicare Supplement and Medicare Advantage - Management noted that claim trends have stabilized and rate increases are expected to restore margins to normal levels [43][44] Question: Sales growth and efficiency improvements - Management indicated that technology investments will continue to drive efficiency and sales growth, with more enhancements expected in 2026 and 2027 [54][56] Question: Remeasurement gains and their drivers - Management explained that favorable mortality and lapse experience are driving remeasurement gains, with expectations for continued gains in the future [59][60] Question: Excess cash flow guidance - Management clarified that excess cash flow guidance remains consistent due to solid statutory earnings, with no significant changes impacting the statutory or GAAP models [65][66] Question: American Income agent count drop - Management stated that a drop in agent count is not uncommon in Q4 and highlighted initiatives to improve agent retention [71][72]

Key Takeaways AFL reported Q4 adjusted EPS of $1.57, up 0.6% year over year, but missing consensus estimates.AFL revenues fell 9.9% to $4.9B as net investment income dropped and operating expenses rose.AFL saw Japan premium sales jump 15.7%, while U.S. earnings declined on higher benefits and expenses.Aflac Incorporated (AFL) reported fourth-quarter 2025 adjusted earnings per share (EPS) of $1.57, which missed the Zacks Consensus Estimate by 8.2%. The bottom line improved 0.6% year over year. Adjusted reven ...