Helia's top line continued shrinking in the third quarter. Year-to-date gross written premiums fell 53%, affected by the loss of Commonwealth Bank and the expanded government deposit scheme. Meanwhile, rising delinquencies and falling house prices are pushing up claim costs.
Fiscal and monetary stimulus cushions an economic downturn in Australia, resulting in a rise in delinquencies, but allows Helia to generate excess returns on equity.
Weaker economic conditions may result in a housing downturn and higher unemployment, leading to a jump in claims and lower levels of insurance written.
Metric | HLI | SUN | QBE |
|---|---|---|---|
Price/Earnings (Normalized) | 6.22 | 21.84 | 12.44 |
Price/Book Value | 1.53 | 2.13 | 2.34 |
Price/Sales | 4.12 | 1.44 | 1.07 |
Price/Cash Flow | 29.31 | 14.19 | 7.75 |
Metric | HLI | SUN | QBE |
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | 7.09 | 3.81 | 11.40 |
Metric | HLI | SUN | QBE |
|---|---|---|---|
Return on Assets (Normalized) | 8.89% | 3.50% | 19.97% |
Return on Equity (Normalized) | 23.24% | 10.08% | 84.34% |
Return on Invested Capital (Normalized) | 17.99% | 5.61% | 63.47% |
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