Future Growth UncertaintyContinued strong earnings growth is expected beyond 2025, supporting further value creation and potential for multiple expansion.
Margin AdjustmentThe business is currently exceeding target margins by a modest amount, suggesting a positive trend in profitability.
Profitability ConcernsInvestor concerns about profitability have been addressed, with a focus on the pace at which current strong underwriting margins will adjust back to target margins.