December 29, 2023

Year End 2023 Review

Friends and colleagues,

We are pleased to present our annual review of P&C insurance market results and performance, and our outlook for next year. Major themes at year-end 2023 include:
· A year with $100B of large losses globally was not a significant stress event. Cats of $1B and above are less than 5% on the industry’s loss ratio. Reinsurers were more selective in taking on catastrophe exposure this year and actually performed quite well.

· Most US personal lines focused public companies will lose money in 2023. Supply chain inflation, higher reinsurance costs, and the failure of prices to track the rebound in driving mileage contributed.

· Stock appreciation has been lower than ROE’s for the industry generally. The market anticipated 2023’s improvements during 2022.

· Several private companies are preparing for IPOs. We also expect more insurer start-ups and M&A in 2024. 

Please see a link here with Stonybrook Capital Year End 2023 Review

With best wishes for your every success in 2024,

Stonybrook Capital and Stonybrook Risk Management 

For further information, please contact Dan Hughes ([email protected]).
Press contact: Kendel Bell ([email protected]).