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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (42981)	6/11/2011 12:35:08 AM
From: Spekulatius	Read Replies (2) \| Respond to of 78748

Jurgis - I think you are correct about setting a limit on cat exposure. They all insure the same stuff (basically and with small variants) so they all get his at the same time. I believe that life insurers are different, since their main risk is with credit markets (due to long tail risk). I own TRH,DL.AS,AHL, RGA,ASI. I am probably done buying and would buy some BrK.b if it goes lower. I have looked at NWLI and while the value is there (trading at 1/2 tangible book), I do think that this is a real trap due to: - no stock buyback - no dividend - (high) single digit ROA - majority shareholder running the company their way, with little hope for change I want insurance company that trade below tangible book to buy back shares. It is basically a risk free return to buy back a Dollar for 80c or less, unless this results in a decreased AM best or credit rating, which may impact their viability..