Insurance Segment GrowthInsurance premium revenue growth accelerated to +37% y/y, benefiting from recent actions consolidating agencies and digitizing operations.
Revenue Performance2Q24 total revenue of $27.1mm (+12% y/y) was ahead of consensus estimates, driven by outperformance at Broadband and Insurance.
Share Repurchase ProgramBOC authorized a $20mm share repurchase program, representing around 5% of the current market cap and indicating management's belief that the stock is undervalued.