Research Analyst at UBS
Leandro, representing Brian Meredith at UBS, is a senior equity analyst specializing in the financial sector, with coverage focused on leading insurance companies such as American International Group (AIG), Progressive (PGR), Marsh & McLennan Companies (MMC), and Hartford Financial (HIG). Under the UBS banner, Meredith has achieved an outstanding performance record, ranking among top Wall Street analysts with a 76% success rate and an average return of 12.7% per rating, notably generating a 95.5% return on an AIG rating. His career in equity research began in the late 1990s, comprising significant tenures at multiple financial institutions before joining UBS. He holds professional credentials in securities analysis, including FINRA registrations and relevant securities licenses, and has received recognition for his expertise and accuracy in analyst rankings.
Leandro (on behalf of Brian Meredith) inquired whether new businesses in the retail segment had returned to normalized levels after issues in Q2, or if there was still room for acceleration.
CFO Andrew Watts clarified that the company did not highlight new business issues in Q3. For Q4, he noted that current inventory suggests a lower volume of multi-year policies compared to Q4 of the prior year, but expressed satisfaction with the underlying activity in other areas.
Leandro asked if new businesses in the retail segment had returned to normalized levels after issues in the second quarter, or if there was still room for acceleration.
Powell Brown, President and CEO, clarified that no new business issues were called out for Q3. He reiterated that the Q4 outlook is based on current inventory and a lower volume of multi-year policies compared to Q4 last year, but underlying activity is good.
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