Tarun Kamal

Tarun Kamal inquired about the drivers behind the decrease in gross written premium, specifically whether it's a combination of lower new business growth and non-renewals in California. He also asked about the scaling strategy for the new excess workers' compensation product and any other new products planned for the rest of the year.

Answer

CEO Kathy Antonello confirmed that the decrease in gross written premium is due to lower new business writings in California and the company's decision to exit certain classes of business countrywide, partially offset by rate increases and appetite expansion. She expects this trend to continue into 2026. For the new excess workers' compensation product, Ms. Antonello stated that the company plans a careful, slow rollout starting July 1, anticipating it to become a meaningful top-line revenue growth driver over time. She also mentioned other similar new products are in mind but not yet ready for announcement.

Tarun Kamal asked for clarification on the drivers of lower gross written premium, specifically if it's a combination of lower new business and non-renewals in California. He also inquired about the scaling strategy for the new excess workers' compensation product and any other new products planned for the year.

Answer

CEO Kathy Antonello confirmed that lower gross written premium in California is due to a combination of lower new business writings and non-renewals, alongside exiting certain classes of business countrywide. She expects this trend to continue into 2026. Regarding the new excess workers' compensation product, Antonello stated the company plans to scale it slowly, with the first business effective July 1, aiming for it to become a meaningful top-line revenue growth driver over time. She also mentioned other similar new products are in mind but not yet ready for announcement.