The "buying biz" and "losses catch up to earned" stuff are vague, unspported claims from an anonymous basher.What are facts are that recent earnings have been booked well beyond expectations leading to a rising earnings outlook,combined with earnings recent stock buybacks have taken book value up by about $5 a share YOY and Moody's has recently released that the TRV credit rating is on positive watch indicating an increase in the offing.
Let me give you a little view from inside Claim. The place has been overcome with a bunch of lawyers and non-claim folks who have never handled a claim. All they are doing is convening multiple committee reviews re: reserving and settlement requests. Because they do not have the confidence to stand behind large reserve increases when they are needed, the earlier post re: losses will catch up with earned is right on target. except it will be a long time coming. Like on the court house steps. Not a good environment. Many of the large loss people have left and gone to Subrogation or retired.