Differentiated Product
Mizuho’s Insurance team focuses on idea generation with a quantitative bent, tying narratives to quantifiable metrics. Two examples: (1) offering an early challenge to the topical narrative that insurance brokers would be disintermediated by AI, through the quantification of revenues at risk by company and by line of business, (2) analyzing personal line aggregate rate changes by compiling industry and company rate filings, thereby offering a leading indicator to the Street on competitive positioning and margin expectations. In addition, as a former Financial Lines insurance underwriter, Yaron brings deep industry knowledge of the underwriting process, insurer-broker-client dynamics and of policy forms.
Key Reports
- Insurance Launch: Prefer Life Over P&C and Brokers
- Initiating (NP) at Underperform and $23 PT as Aggressive Growth Already Priced In
- Rating Changes on Broker AI Selloff: Upgrading AJG, AON and BRO, Downgrading MRSH
- Insurance Broker Earnings Quality - BRO at the Top
- Strictly Personal (weekly Personal Lines tracker)
Notable Events
- AXS – Group Dinner (3/2) at AIFA Conference
- AXS – Upcoming Boston NDR (5/18)
- WTW – Upcoming Chicago NDR (6/11)
Analyst Bio
Yaron joined Mizuho in June 2025 as a senior analyst based, covering the Insurance sector. He joins Mizuho from Jefferies, where he served as lead Equity Research Analyst for North America P&C Insurance and Insurtech and was named runner-up in the 2023–2024 Institutional Investor (now Extel) All-America Research Team surveys. Prior to Jefferies, he held lead analyst roles at Goldman Sachs and Deutsche Bank, where he was recognized as a Rising Star in the All-America Research Team survey. He began his career in underwriting at AIG. Yaron holds an MBA from Columbia Business School and an LL.B. from the Hebrew University of Jerusalem