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Fly News Breaks for December 27, 2019
CB, HIIQ
Dec 27, 2019 | 12:14 EDT
Cantor Fitzgerald analyst Steven Halper said he spoke with Health Insurance Innovations' (HIIQ) CEO Gavin Southwell about last week's business update, after which the analyst does not believe the company intended to communicate that it was winding down its IFP business but appears to be undertaking a series of moves to improve the performance and profitability of the segment. Southwell confirmed that the company has been decreasing its business with Chubb (CB) over the period of several months and added that he expects the company to announce a new relationship with "a much larger insurance carrier," according to Halper, who noted that the company has rotated carrier relationships in the past and he views this case as no different. The analyst, who believes the risk/reward is attractive regardless of the outcome of the strategic review process, keeps an Overweight rating on Health Insurance Innovations shares, which are down 90c, 4.5%, to $18.85 near midday.
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