Chubb Limited (CB)

It is the largest property and casualty insurance provider in the world and has a very good management team. It pays out less than 90% in claims and expenses. Trades at 10X earnings and 1 1/2 P/B with a yield of 3 1/2%.  It has U.S. and international exposure and has the money to invest in new fixed income and other products.    Buy 16  Hold 7  Sell 1

Global, with 40% of premiums coming from outside US. Deep product offerings. Grows through acquisition as well. Valuation has pulled back to an attractive 10x forward earnings. Very disciplined underwriting. Rising rates are a tailwind for its investments in fixed income. Well-respected management. Yield is 1.81%.

CB pays a good yield of 1.8%, has grown its sales and earnings decently over the past five years, with a five-year sales and earnings CAGR of 6.2% and 6.4%, respectively. Analysts estimate good growth in the future years, with earnings estimates of 19% and sales estimates of 7.5% for this year. Most insurance companies generate a significant amount of earnings from their investment portfolios, which are mostly made up of bonds, and so high interest rate environments can help their bottom line, however, decline in rates will also help bond prices. Management has done an excellent job and Evan Greenberg, the CEO has over 45 years of insurance experience and joined the company over 20 years ago. We think the name is buyable here.
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Continues to hold stock.
Excellent fundamentals.
Good for long term investors who want a predictable business.
Underwriting & bond portfolio performing well. 

Very respected insurance company.
Massive asset book with diversified business model.
Combined ratio in 85% range (very good). Equated to ~15% margin. 
Bond holdings also performing well.
Not concerned about rise of AI.

Just bought it. Is a global P&C insurer. Well-run. Are good underwriters. Their combined ratio is below 90%. They grow acquiring, most recently life expanding into insurance in Asia. Pays only a modest dividend, but offers strong growth.

Just added on pullback. Strong managers which is key for PC insurers. Are excellent underwriters in assessing risk. Their combined ratio has been 90% or less. Also, they have a global presence, with 60% in North America and 40% outside.  Have many commercial and personal lines and have just expanded in accidental and life insurance in Asia. Diverse and deep. Investment portfolio is conservative, about 87% in investment-grade bonds. Shares down 20% on the current pullback. PE is 10.5x forward is attractive. Pays only 1.7% yield, but good company growth ahead.

A quality insurer and leads the industry in margins. It's pulled back enough this year that you can add a little now, but there are other defensive names like JNJ to consider too.

Come off the last few months, primarily because of investments in bonds. Over the long term, rolling over bonds in a higher rate environment is a benefit. Solid holding. Pricing power on insurance side. Very well managed. 1.3x book, a good fair price.