Pelagos Insurance: Buybacks Support Further Upside
Pelagos Insurance Capital Limited has shown significant growth, with a 40% increase in stock value over the past year. The company's Q1 results highlighted strong underwriting performance and a notable rise in net written premiums. Despite facing challenges from reinsurance pricing, the overall outlook remains positive due to effective capital returns and buybacks.
- ▪Pelagos Insurance Capital's stock has increased by 40% in the past year.
- ▪The company reported Q1 EPS of $0.94 and a 15% rise in net written premiums.
- ▪An 86.6% combined ratio indicates normalized catastrophe losses.
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