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Strategies & Market Trends : BAK - Investing
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To: Spekulatius who wrote (2631)5/14/2012 4:04:06 PM
From: batman100231 Recommendation   of 3249
 
Re: bought some more USLM and NWLI today.

i still don't view this as a threat/problem nor does management. i have spent some time with them on this to make sure i am comfortable.

first, they haven no control so it's not enforceable.
second, the people who buy these products are generally the upper class in these countries, they want US exposure and don't want exposure to domestic insurance companies. that's why they buy these policies.
third, this doesn't effect ROE although it could effect growth rates in the business overall.
fourth, this doesn't effect the current policies in place.

MET is also cheap. i think NWLI is more of a deep value play and is cheaper and has a much better balance sheet.

Message # 2631 from Clownbuck at 5/12/2012 1:56:29 PM

Re: bought some more USLM and NWLI today.

Re NWLI and international life insurance sales - I know based on your posts in yahoo that you don't believe that the 6B$ lawsuit from Brazil is not threatening. While I agree With NWLI position that this is not enforceable ( Brazil has no jurisdiction over an Austin insurance office selling life insurance to Brazilian citizens) it seems to me that eventually the Brazilians will succeed clamping down on those sales one way of another.Since the total international sales are 34% of their income ( annual report 2011) the loss of earnings potential would be quite material and may reduce their ROE even more. What is your opinion how this is going to play out?

I own some NWLI but I am thinking that MET ( which is on sale again) may be a better bet right now - similar PE, higher ROE but if course lower price to book.
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