Looking Forward - AIZ Focus Idea, Insurtech Valuation, 2026 Hurricane Primer

Research evidence excerpt

Looking Forward - AIZ Focus Idea, Insurtech Valuation, 2026 Hurricane Primer

proach unreliable. We identify two common errors: applying the inflation and changes in the legal and regulatory

wrong framework for the underlying business model, and assuming a blanket Insurtech environment.

premium. Instead, we believe there are several appropriate ways to value an Insurtech

stock, depending on the company’s business model, profitability stage, and risk profile. Insurance Brokers: The insurance brokers

See here for full report. industry is subject to risks including interest rate

risk, P/C underwriting cycle and competition.

Notes Published Last Week (6/15/2026):

Insurtech: The Insurtech industry is subject to

risks including growth, profitability, underwriting,

• 2026 Hurricane Primer: How Reliable Are Seasonal Forecasts?: The U.S. Atlantic AI adaption and cybersecurity.

hurricane season began recently (June 1st – November 30th), putting catastrophe

exposure back in focus for hurricane-exposed insurers. We evaluated the recent Life: Interest rates; regulatory environment;

seasonal forecasts and historical hurricane records, and their implications for the secular trends across fee & risk-based

insurance industry. According to our analysis, the Florida-centric carriers will benefit in businesses; fee pressure; FX; distribution &

the event of a low-hurricane season. We are constructive on the group as a result. See access to customers; pricing dynamics &

here for full report. inflationary trends.

• Arthur J. Gallagher (AJG, Neutral, $55.6 billion cap): AJG hosted its quarterly

Investor Conference Call with Management. We view the news as positive overall. A Risk

Management organic growth tailwind in the quarter is driving our organic growth estimate