Definity Financial (DFY-T)

EPS was 65c, missing estimates of 71c; revenue of $1.00B missed estimates of $1.02B. Written premiums rose 9.6%. Combined ratio was 94.5% (more accidents and catastrophe losses). EPS was flat year over year, ROE was 10.3%. Book value rose 16%. The stock is still up 10% on the year, and despite the decline this is not a disaster. But a miss is a miss, and investors may also be selling to move into more exciting areas now that the market is rallying a bit. The outlook still calls for very decent earnings growth over the next two years.
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Strong balance sheet, buying smaller businesses. Has an opportunity in front of them that the likes of MFC do not. 

Has done exceptionally well. Best technology platform in the space. Great management. In November, it's allowed to be taken out if a suitor comes calling. Lofty premium will remain until then. Would make sense for IFC to buy it.

Predictable. Smaller P&C insurance. Pretty stable chart. ROE has an exceptionally bright future because of how well the business is run. Topline growth over 9% in recent earnings, and really good expense management. Yield is 1.21%.

Depends on what percentage it makes of your portfolio, plus what your cost base is. #1 competitor to DFY is IFC. The industry is consolidating more. DFY might have a leg up on IFC, as DFY is smaller and can buy a few more things in Canada.

Cost inflation and extreme weather give him pause in this area. Both well-run businesses, but inclined to stay away. The sector poses some risks.

Recent insurance losses (flooding) in Toronto will be hard on the business, but overall long term prospects are good. Climate change actually good for the business (more premiums). Likes business, but does not own shares (prefers Intact). 

P&C business. Making a ton of money. Great business, good valuation. Will probably be acquired at some point. His insurance play remains BRK.B.

Does not owns shares. However, likes property and casualty insurance space. Canadian company with online business model that is good for reducing costs. Will take time to see if business is consolidated. If already own shares - would recommend holding. 

Reasonable dividend. Good company with quality prospects. Q1 a slight miss, but the business is very sound. Would recommend buying weakness. Excellent value at current share price. 

Trades at significant discount (1.7x book value) to IFC (2.7x book value), as it's growing faster and increasing ROE faster. Sees it trading at 2x book within a year, giving it a $60 share price. Pullback is a great entry point. Yield is 1.49%.

All reinsurance in property & casualty business. Really expensive in Canada. IFC is the monster, DFY is a newer entrant. He owns none of them. Likes the business, but valuation is too high.