Wilma Burgess

“How do you see the long-term pricing trend for stop loss? Realize it's been over 20% for the last few years, but are you seeing any indications is starting to normalize more toward longer-term high teens.”

“From some of the health care insurers, 1Q26 reporting, it sounds like medical trend is moderating somewhat, still high, and, of course, it's been unprecedentedly high over the last couple years, but maybe rising at a more modest pace.”

“This is a quick one on the payout ratio. It was 87.2% in 1Q, up about 40 BIPs from just year over year, and then, you know, compared to also 24. for. Do you go to some of the drivers and is it related to recent acquisitions or Commonwealth or anything along those lines or what else could be driving it?”

“What's the best way for us to – or could you give us some insight to how you're thinking about the loss pick for the January 2026 stop loss business. Maybe if you could just pull together the pieces on the 24% rate increases, 20% medical trend, and any benefits from risk selection.”

“Could you give us a little bit more color on what to expect into early 26? Fall 91 advisors recruited in 4Q, which seems to imply a pretty solid result for 1Q. So maybe give us a little more color there.”