{"id":704,"date":"2021-09-11T10:00:11","date_gmt":"2021-09-11T14:00:11","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=704"},"modified":"2021-09-10T16:12:32","modified_gmt":"2021-09-10T20:12:32","slug":"3-things-9-10-2021","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-9-10-2021\/","title":{"rendered":"3 Things – Ida Losses, Marshmallow Unicorn & Kin Earnings – 9\/10\/2021"},"content":{"rendered":"

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Hi All!\u00a0 We are back after taking a hiatus last week.\u00a0 We hope everyone enjoyed a holiday weekend and stayed out of harm’s way with Ida, wildfires and other CATs.\u00a0 Over the last two weeks we have followed Ida losses, a new insurtech unicorn and Kin’s first quarterly earnings.\u00a0 Here are the three things we learned:<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Ida Losses Becoming Clearer<\/strong><\/p>\n

Ida appears to be 2021’s most major cat so far with a few months left in the tropical season.\u00a0 We hope all who were affected by this storm are on the path to recovery.\u00a0 The total losses in the\u00a0US could reach $40B<\/a>\u00a0but it appears that changes made post-Katrina and post-Sandy helped in the Gulf region and Northeast respectively.\u00a0 Our friend Ian\u00a0breaks down the estimation math<\/a>\u00a0in his usual clever way and puts into perspective with past events.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Marshmallow’s $1.25B Valuation<\/strong><\/p>\n

Marshmallow, a UK motor insurer,\u00a0raised $85M giving them a valuation greater than $1B<\/a>.\u00a0 We suspect most of us in the US were not aware of them prior to this event.\u00a0 It’s hard to get a read on their fundamentals but they appear to have messaging similar to fellow unicorns about changing the way insurance works for the consumer and are experiencing rapid growth.\u00a0 The UK market is quite different than the US so it will be interesting to watch how they grow and what is next for them with this elevated valuation.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Kin Insurance’s First Public Earnings<\/strong><\/p>\n

Newly-public SPAC home-insurer Kin, who we have been following, had their\u00a0first public quarterly earnings announcement<\/a>.\u00a0 They grew premiums by 287% but their operating expenses are growing as well so the operating loss has stayed consistent over the past 3 quarters.\u00a0 Their loss ratio dropped from 96% to 67% over the prior year period, they will need to continue this downward trend and level off expenses to squeeze out a profit while maintaining rapid growth.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Thank you for following us, we appreciate your feedback and continued support.\u00a0 Stay productive, stay safe and stay in touch!<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hi All!\u00a0 We are back after taking a hiatus last week.\u00a0 We hope everyone<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n3 Things - Ida Losses, Marshmallow Unicorn & Kin Earnings - 9\/10\/2021 - Wikifri<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wikifri.com\/3-things-9-10-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - Ida Losses, Marshmallow Unicorn & Kin Earnings - 9\/10\/2021 - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hi All!\u00a0 We are back after taking a hiatus last week.\u00a0 We hope everyone\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-9-10-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-11T14:00:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-10T20:12:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png\" \/>\n<meta name=\"author\" content=\"Nick Coenen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Coenen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-9-10-2021\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-9-10-2021\/\",\"name\":\"3 Things - 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