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Investors greeted the insurance industry’s second week of earnings season warmly. Most insurance stocks rose during the last week in April, modestly outpacing broader measures of the stock market and most other financial institutions.

Moving on to personal observations from the second wave of earnings reports, this week I offer four:

(1) Workers’ compensation, love it or hate it?

Few insurers would disagree that workers’ comp is one of the most challenging lines of commercial insurance. However, it is surprising that some companies are actively growing their comp books, while others are either still shrinking or fighting to reverse increasingly poor underwriting results.

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