Portfolio strategy for a regional insurer
Capital returns audited under the Markham Verification Standard at month 24. Full audit trail available under NDA.
The situation
A regional insurer held seven underwriting lines, three of which had been kept for reasons nobody could state in writing. Combined ratios ranged from 87% to 109% across the portfolio, and capital was allocated by history rather than by return. The executive team carried three unwritten strategies, growth and consolidation and harvest, and which one you heard depended entirely on which executive you asked, which is a symptom rather than a failing, because nobody had ever been made to write one of them down.
The board did not ask for a growth story. It asked the harder question: which of these businesses would we choose today, and what is that choice worth?
Impact in detail
Baselines fixed before the exits were announced; month-24 readings audited under MKM-F-003. No figure above is self-reported.