Less Bullish Outlook Post 3Q24 (Nov. ’24)

In an Assured Comment we roundup and summarize the changes to ’25e and ’26e following the 3Q24 earnings season. Many commercial (re)insurers increased their accrual loss ratios and analysts carried that forward which lowered forecasted ROEs. We think many cos. will extend the duration of their investment portfolios to pick up yield as the yield curve steepens. More in our Assured Comment