Reports Q4 revenue $1.26B, consensus $1.27B. “Despite strong investment results, overall financial performance in 2024 did not meet our expectations. Within insurance operations, we delivered solid underlying profitability but took meaningful actions to strengthen casualty reserves in response to social inflation. We also increased Standard Commercial Lines renewal pure pricing, achieving 8.8% in the fourth quarter and 8.3% for the year. We continue to focus on returning our performance to the combination of growth and profitability investors expect of us and we expect of ourselves. With these pricing actions and our ability to manage renewal pure price and retention at a granular level, we are well positioned to capitalize on our competitive strengths. These include our unique field model, the strength of our distribution partner relationships, and our customer experience focus,” said John J. Marchioni, Chairman, President and Chief Executive Officer.
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