Tyler Hammel

Denver

Global Insurance Reporter at S&P Global Market Intelligence

nosy nerd, former newspaperman, former Virginian, current Colorado cryptid. he/him 🏳️‍🌈

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Articles

Allstate shares recover after lawsuit hits National General subsidiary

Aug 2, 2024 | spglobal.com | Tyler Hammel

Shares in The Allstate Corp. largely recovered from a brief dip that followed news that one of its subsidiaries was being sued for fraud by the Department of Justice. Allstate's stock fell 4.03% from July 24 to July 25. It has since recovered, rising 7.3% from a low of $165.40 per share on July 25 to $177.49 by the close of trading on Aug. 1, buoyed by second-quarter earnings.
Managed care stocks largely fare well during Q2 2024

Jul 12, 2024 | spglobal.com | Tyler Hammel

US managed care stocks generally outperformed the broader insurance industry during the second quarter. The nation's biggest health insurers closely mirrored the performance of the S&P 500, which rose 4.13% in the second quarter, and outpaced the S&P Insurance Index, which declined 2.27%. After facing down high Medicare Advantage costs in recent quarters, Humana Inc. rose the most during the second quarter. Its shares climbed 6.3% in the period, closing at $373.65 on June 30. Elevance Health Inc.
State Farm flags surplus deterioration, seeks 30% homeowners hike in California

Jul 2, 2024 | spglobal.com | Tyler Hammel

State Farm General Insurance Co. is seeking to significantly raise homeowners insurance rates in California while flagging to regulators that it faces "further surplus deterioration" if rate hikes are not approved. In with the state's Department of Insurance on June 27, the company outlined its reasoning to raise rates for various home lines, including a 30% hike for homeowners renewal policies dated Jan. 1, 2025, and later.
Root top insurer on Wall Street as turnaround continues

Jun 14, 2024 | spglobal.com | Tyler Hammel

Insurance technology companies Root Inc. and Oscar Health Inc. are among the best-performing listed US insurers on Wall Street so far in 2024 as various technology-focused insurers refocus their business. Root's stock value has jumped 328.5% since Jan. 2, the first day of trading in 2024, growing to $44.86 per share by the close of trading on June 12 from $10.47 a share.
Goosehead down YTD after earnings fail to impress Wall Street

May 31, 2024 | spglobal.com | Tyler Hammel

Shares in Goosehead Insurance Inc have underperformed leading US insurance intermediaries and the wider market this year but have recovered some ground following a steep drop after the release of underwhelming fourth-quarter 2023 earnings. The Texas-based independent personal lines insurance agency reported Feb. 21 that its revenue increased to $63 million from $57.4 million compared to the prior-year quarter, missing analyst forecasts of $68.4 million.
UnitedHealth outperforms on Wall Street after Q1 earnings

May 17, 2024 | spglobal.com | Tyler Hammel

Shares in UnitedHealth Group Inc. have outperformed both its managed care peers and the wider insurance industry since announcing first-quarter earnings. From April 16, the day United released its first-quarter earnings, UnitedHealth rose 10.4% through May 15 and was trading at $522.68 a share as of noon Friday. It also outperformed both the S&P 500 and S&P 500 Insurance Index during the same period, which rose 5.08% and 3.57%, respectively over the same period.
S&P webinar: Challenges continue for US insurance industry as inflation persists

May 1, 2024 | spglobal.com | Tyler Hammel

➤ Inflationary pressures have moderated from prior levels but remain elevated compared to the pre-pandemic years. ➤ The US Federal Reserve's efforts to address inflation have not hit their targeted goals. ➤ The property and casualty industry remains in a hard market even as rates may have peaked. The outlook for the domestic insurance industry remains complicated as stubbornly high inflation weighs on the sector, experts said during an April 30 S&P Global Market Intelligence webinar.
Cat losses weigh on Travelers stock as earnings season gets underway

Apr 19, 2024 | spglobal.com | Tyler Hammel

Shares in The Travelers Cos. Inc.'s stock dipped this week after first-quarter earnings revealed unexpectedly elevated catastrophe losses in contrast to some other sector heavyweights. The insurer reported first-quarter net income of $1.12 billion, up from $975 million during the same period in 2023. However, the insurer's catastrophe losses also rose due to severe wind and hailstorms in the central and eastern regions of the US, hitting $712 million pretax, up from $535 million in 2023.
UnitedHealth shares feel fallout after cyberattack, antitrust report

Mar 22, 2024 | spglobal.com | Tyler Hammel

Shares in UnitedHealth Group Inc. have moved in the opposite direction of both its industry peers and the wider market since becoming the target of a cyberattack and a reported antitrust investigation. The healthcare giant's stock has declined 5.8% since Feb. 21, when it announced that the hacking group ALPHV had breached its system, hitting its subsidiary Change Healthcare Inc. particularly hard.
Insurtech stocks maintain momentum, among top performers so far in 2024

Mar 8, 2024 | spglobal.com | Tyler Hammel

Insurance technology companies have been some of the best-performing US insurance stocks thus far in 2024, according to an S&P Global Market Intelligence analysis. Through March 5, Root Inc. has had the strongest rally among publicly traded insurance companies in 2023, surging 273.1%, thanks in part to announcing its best-ever quarterly results on Feb. 21. Another insurance technology (insurtech) company, Hippo Holdings Inc., has posted the second-largest rise, at 58.6%.