{"id":831,"date":"2022-04-30T10:00:53","date_gmt":"2022-04-30T14:00:53","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=831"},"modified":"2022-04-30T09:38:44","modified_gmt":"2022-04-30T13:38:44","slug":"3-things-4-29-2022","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-4-29-2022\/","title":{"rendered":"3 Things – More Earnings, IPO\/Strategy Review & Transverse Ventures – 4-29-2022"},"content":{"rendered":"

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Hello Friends!\u00a0 Enjoyed seeing everyone at the Hartford Insurtech Symposium looking forward to more conferences coming up including Insurtech Insights in NYC May 26-27 and Dig-In in New Orleans Jun 8-9.\u00a0 This week in insurance we were following more than 3 things so we tried to pack into the usual buckets… there were more Q1 earnings to digest, an IPO and strategic review and Transverse announced a new venture fund.\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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Earnings Remain Mostly Strong\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong><\/p>\n

There were many earnings reports to look over this week with a large number of established carriers and brokers reporting a strong Q1.\u00a0 Chubb continues to power along breaking all sorts of records with\u00a0their Q1<\/a>.\u00a0 W.R. Berkley grows\u00a0underwriting profit<\/a>\u00a0and overall value to shareholders with a strong return on equity.\u00a0\u00a0Root<\/a>\u00a0continues to lose money but it’s cost-cutting measures are taking affect and the partnership with Carvana accounts for 13% of their new premium volume.\u00a0 In the broker \/ agent arena,\u00a0AJ Gallagher<\/a>\u00a0has a strong quarter while\u00a0Willis<\/a>\u00a0does not.\u00a0 The one that was most interesting is\u00a0Goosehead<\/a>\u00a0who is starting to look like growing force in agency rollup \/ franchising.\u00a0 They are forecasting they will exceed $2B in written premium this year.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Skyward Specialty IPO, Argo Begins Strategic Review<\/strong><\/p>\n

It had appeared the trend to stay private and raise funds would be in place for 2022.\u00a0 Skyward Specialty announced a\u00a0confidential submission for IPO<\/a>.\u00a0 They have over $1B of premium and are growing.\u00a0 The timing could be good for public fundraising especially since the markets have cooled off and there is less competition.\u00a0 Argo has begun a\u00a0strategic review<\/a>.\u00a0 It has been rumored for some time that they would explore a sale or merger.\u00a0 There are plenty of carriers that are finding a way to make money in specialty and reinsurance that should be able to turnaround this operation.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Transverse Creates Venture Fund<\/strong><\/p>\n

There is another insurer-backed venture fund open for investments.\u00a0 Transverse, a fronting carrier and program administrator, announced the closure of a\u00a0fund<\/a>.\u00a0 They will likely be targeting distribution opportunities that would benefit their core business including digital MGAs and brokers.\u00a0 The release was short on details such as how much money they will have so we will be watching to see what investments they make in the coming year.<\/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 tuned for more info to come.\u00a0 Until next week… stay safe, stay productive!<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hello Friends!\u00a0 Enjoyed seeing everyone at the Hartford Insurtech Symposium looking forward to more<\/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 - More Earnings, IPO\/Strategy Review & Transverse Ventures - 4-29-2022 - 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-4-29-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - More Earnings, IPO\/Strategy Review & Transverse Ventures - 4-29-2022 - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hello Friends!\u00a0 Enjoyed seeing everyone at the Hartford Insurtech Symposium looking forward to more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-4-29-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-30T14:00:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-30T13:38:44+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=\"3 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-4-29-2022\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-4-29-2022\/\",\"name\":\"3 Things - 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