Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • The company may continue to experience net losses due to a pause on underwriting new premiums for HO3 business in Q3 2023, reducing premium and revenue.
  • Despite reducing headcount, the company intends to grow its employee base over time.
  • The company plans to expand into new geographic markets, reduce its footprint in some, and introduce new products.
  • The company expects to increase its loss performance over time as more customers renew policies.
  • The company has reduced its proportional reinsurance coverage, retaining more risk, which may lead to increased losses.
  • The company expects to secure renewals of beneficial treaties that pass risk transfer for accounting purposes.
  • The company's loss experience improvements led to the decision not to purchase proportional reinsurance for its primary homeowners' reinsurance program in 2024.

Full Text Changes in Most Recent 10-K

Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.

To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1828105&owner=exclude

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