Benefiting from continued tight market conditions in insurance market, which (perversely) is bolstered by climate change. Consultancy side is a play on the labour market, which remains robust.
Their reinsurance business increases when premiums increase. Also operate consulting businesses. Recently bought it. Expects double-digit returns over the cycle.
Insurance brokerage business is profitable, but technology will depress margins. Well run, but has benefited from PE expansion. Hard to see the upside. Great company, but rather fully priced.
$112.32 is his target. Low volatility. Has long owned this and done well with it. Days of rigging bids and price fixing are long behind them. (Analysts’ price target is $93.94)
Has gone through a lot of problems in the last 6 months or so. Senior management has been let go and there is talk about people rigging their bidding for certain aspects. The component parts of their company are actually pretty good. New management has cleared up a lot of the issues and thinks there's a lot more upside in this company.
Has a hard time understanding exactly what's in it or what the new model will look like. Was extremely profitable. It threw off cash. Had a high ROE. There were things going on that increased the profitability. Would stand back on this one.
Have seen earnings estimates fall because of the lack of business that they were going to be getting. Using last Sept's balance sheet, feel that it is worth around $33.45. Want to see the write offs before buying.
Benefiting from continued tight market conditions in insurance market, which (perversely) is bolstered by climate change. Consultancy side is a play on the labour market, which remains robust.