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    Kalim Abumane

    Vice President and Analyst at Kornit Capital

    Kalim Abumane is a Vice President and Analyst at Kornit Capital, specializing in in-depth research and advisory for the fintech and emerging technology sectors. He actively covers a portfolio of companies including Stripe, Adyen, Square, Klarna, and Marqeta, and his investment recommendations have outperformed sector averages with a documented success rate above 65% and strong risk-adjusted returns over the past three years. Kalim began his career in financial analysis in 2015 with prior roles at Oakridge Partners and Lendwise Capital before joining Kornit Capital in 2021. He holds FINRA Series 7 and 63 licenses and has been recognized internally for his detailed company diligence and insight-driven portfolio strategies.

    Kalim Abumane's questions to MERCURY GENERAL (MCY) leadership

    Kalim Abumane's questions to MERCURY GENERAL (MCY) leadership • Q4 2024

    Question

    Kalim Abumane from Kornit Capital requested details on the wildfire claims, including the number of total losses and specifics on the $800 million paid out. He also asked for clarification on the methodology for the $1.6B to $2.0B gross loss estimate, whether it includes reinstatement premiums, and the status of discussions with reinsurers about classifying the fires as two separate events.

    Answer

    An executive, Victor, stated that about 2,700 claims were reported, with approximately 800 total losses, and that over 95% of these have had Coverage A limits paid. CFO Theodore Stalick explained the gross loss estimate is derived by applying historical payout percentages to the Total Insured Value (TIV) of known total losses, plus an estimate for partials. He confirmed the $80M-$101M reinstatement premium is not included in that gross estimate. CEO Gabriel Tirador added that while they are receiving no pushback from reinsurers on a two-event classification, the strong subrogation potential makes it less likely they will pursue that option.

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