People should expect earnings to decline, its a pretty obvious thing given that net premiums written have been steadily declining. Not sure why people are surprised.I think any disappointment that net premiums written continues to decline shouldnt result in a 15% correction.
In my view this stock shouldnt be trading at a sub 1 P/B. I'm willing to hold through this pullback. Still confident in long-run, just a short term blip....just need to start writing more business.