What podcasts say about Ryan Tunis
Every statement, with the speaker, the exact quote and the moment it was said.
What Ryan Tunis has said on podcasts
40 statements · 14 positive · 23 negative · 3 neutral
Chubb would likely be worse off by bypassing insurance brokers.
“So from Chubb's standpoint, you really wouldn't benefit a lot if you tried to go direct. I think you'd probably end up in a worse place.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 6:23
Direct distribution works in U.S. personal auto insurance.
“direct works in one market within PNC in the United States. And we all know that it's personal auto with the Geico and the Progressive.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 7:52
Direct auto insurance distribution has gained roughly 1.5 percentage points of share over time.
“the direct market has taken share of the, you know. whether it's a captive agent like Allstate, like an agent that will sell just the Allstate product, or an independent agent that can sell products from multiple carriers, you've seen the direct channel take maybe a point and a half a share over time.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 9:09
Direct distribution represents slightly over 30% of the market.
“I want to say it's a little over 30%.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 9:38
Direct distribution’s market share is still increasing.
“And still increasing. Correct.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 9:44
Direct distribution has not succeeded in homeowners insurance so far.
“It hasn't worked so far yet in the home space.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 10:52
Progressive faces difficulty expanding homeowners insurance beyond Florida and similar capacity-constrained markets.
“The relationships matter a ton. In Florida, from time to time, obviously, there have been well-documented capacity issues and things like that. Progressive's not going to have such a difficult time. But trying to move beyond that gets complicated.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 12:50
Auto insurers raised rates about 60% despite needing roughly 40% increases.
“It turns out these auto insurers probably only needed to increase your rate by about 40%. They got 60% instead.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 13:55
Personal auto insurance is experiencing an unusually severe soft market.
“So what you have is sort of a once-in-a-generation personal line soft market.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 14:25
Personal auto insurance over-earning and soft-market conditions may persist through 2027.
“I think we'll probably be having a conversation just like this through the end of 2027, if I had to guess.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 15:06
Automobile collision frequency has declined over the past several years.
“what we've had over the past couple of years are declines in the frequency of automobile collisions.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 15:54
Fewer auto exposure units could shrink the addressable market for personal auto insurance.
“the reason you have that $350 premium addressable market is that it's a measure of exposure units in the auto industry. Fewer exposure units means you just don't have that TAM. So I'm worried about how that theme is going to develop over the next several years.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 16:47
Claims inflation raises expected losses when premiums remain unchanged.
“If the next year you only collect that million dollars, but there's inflation, then you're going to expect more than $700,000 of claims.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 19:24
Higher expected claims from inflation deteriorate insurance margins.
“And you're going to have margin deterioration.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 19:33
P&C insurance typically experiences at least one hard and soft market per decade.
“these cycles, you tend to see a hard and a soft market at least once during a decade.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 20:53
The commercial P&C market had a seven-year hard market before transitioning recently.
“We've been in a seven-year hard market, right? So a very, very long time. The market started to transition. about a year ago.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 21:50
Large-ticket commercial property insurance pricing is softening as claims-inflation uncertainty declines.
“That's softening. And you're no longer having the same level of uncertainty that you did around inflation of those claims.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 22:24
Commercial insurers are finding growth more difficult as the market softens.
“So now it's starting to naturally leak. Companies are having a harder time growing.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 22:35
Main Street agent-based insurers are less exposed to softening commercial rates.
“companies that are the least exposed, I think, to a softening rate environment are those that have that Main Street agent-based exposure.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 23:59
Large-account commercial insurance faces the most competition in soft markets.
“that is the stuff that ends up facing kind of the most competition”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 24:44
Travelers has a stronger reserve position than other commercial-line underwriters.
“Traveler's reserve position impresses me quite a bit more than the other commercial lines. Underwriters.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 25:44
Travelers and Chubb trade at somewhat expensive valuations around 12–12.5 times earnings.
“The knock on both of them is they're both probably a little bit too expensive. Now, we're talking 12, 12 and a half times.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 26:02
Travelers trades at roughly 2.4 times book value and Chubb at roughly 2 times.
“Travelers is about $2.4 and Chubb is about $2.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 26:24
AIG’s self-help plan depends on expense savings and reinsurance synergies.
“It's a handful of things. It's expense saves. It's reinsurance synergies and buying now reinsurance.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 29:15
AIG’s return on equity is reliably about 11%.
“Reliably 11%. That's not terrible.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 29:30
Reinsurance has gained franchise value through industry consolidation.
“I think there's more franchise value now than there's been because there's been so much consolidation.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 32:06
Reinsurers have historically accepted unacceptably low returns.
“The bigger issue is we've seen this industry willing to accept – returns that are unacceptable.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 32:59
Reinsurance brokers are Ryan Tunis’s preferred insurance subgroup.
“reinsurance broker is definitely my top subgroup, without a doubt.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 33:45
Reinsurance-broker organic growth has likely bottomed above its prior soft-market level.
“I think there's evidence we've seen organic growth bottom, and it's bottomed at a level that's higher than it did in the last soft market.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 35:05
Reinsurance-broker organic growth is bottoming around 4–5%, versus 3% previously.
“So results, call it 4% or 5% is where it's bottoming. Last soft market, it was 3%.”
Open the episode · P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74Listen at 35:12
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.