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Analyst
Rowland Mayor
Period: Reporting periods mapped to calendar 2025 Q4 – 2026 Q2 (3 quarters).
- Questions
- 7on tracked calls
- Challenge rate
- 0%none of 7 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 3with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 7 of 7 questions from 2 companies
ACGLArch Capital Group5 questions · 3 reporting periods · 0 of 5 challenging
Calendar 2026 Q2
do you guys embed some views investment yields in your rate adequacy decision on long tail lines?
Show response
Papadopoulo answered unambiguously: casualty underwriters are credited only a risk-free rate and must write to an underwriting profit.
Are we at all close to the point where special dividends make more sense than buybacks?
Show response
Morin gave the explicit valuation framework: specials made sense at 2x book in 2024, buybacks are preferred in the current 1.45x-1.6x range.
Calendar 2026 Q1
do you think that the catastrophe models are fully capturing the improved loss environment in Florida from AOB benefit perform?
Show response
Francois confirmed Florida tort reform improvements are reflected in their modeling. Historical loads for fraud and additional claims expenses have been adjusted. Current PML reporting reflects how they expect the environment to respond given latest reforms.
Calendar 2025 Q4
Can you give an update on the carrying value of the deferred tax asset when we expect to hear some clarification on the ability to recognize it?
Show response
Francois said $1.2B DTA has amortized by ~$100M in 2025. Will continue amortizing in 2026. Depending on Bermuda law changes, the asset could be eliminated entirely, possibly late 2026 or 2027. Not their decision, depends on government negotiations.
I just wanted to ask on your view of M and A. This environment.
Show response
Nicolas said M&A position unchanged, interested in strategic assets that improve the platform. But in current market conditions, would need to be an amazing deal to pursue. Efficiency-driven acquisitions unlikely given where the market is. Not impossible but unlikely.
AIGAmerican International Group2 questions · 1 reporting period · 0 of 2 challenging
Calendar 2026 Q2
you're starting to have significant allocations to AI-related corporate debt
Show response
Keith Walsh said AIG has no significant AI-specific debt allocations. Within private credit, direct software exposure is only 16 basis points of the portfolio, and he characterized any such allocations as immaterial at this point.
I was wondering if you could size the premium contribution from the Convex quota share in the quarter.
Show response
Eric Andersen declined to break out the specific components, characterizing organic growth as low-to-mid single digits and noting the Everest relationship makes client-by-client attribution difficult. He said the first-quarter reinsurance tailwind largely dissipated in the second, with the remaining transactions filling in the rest of the growth.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| ACGL Arch Capital Group | 5 | 0%none of 5 questions |
| AIG American International Group | 2 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
| 2026 Q2 | 4 | 0%none of 4 questions | 2 |
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q24 questions · challenge rate 0% (none of 4 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Margin3
- Capital Allocation2
- M&A2
- Pricing1
- Credit1
- Cloud & AI1
- Revenue Growth1
- Regulation Policy1