Third Point Re (TPRE) reported the quarter on the 5th. music selection: “#1 Crush” — Garbage Today’s song might be ‘Crush’ but Loeb and Co. failed to crush it this quarter. Our most important metric for the health of a
Update GLRE
Greenlight Re (GLRE) reported the quarter on Monday. music selection: “Edge Of Thorns” — Savatage The most important piece of news in the release is the “combined ratio”. This is the insurance industry’s measure of how profitable underwriting is. You
Portfolio Construction Part three of many
Part three of my portfolio series is about the best business in America, Property and Casualty Insurance. music selection: “Sheena Is A Punk Rocker” — Ramones High yield and fixed income make up the first two parts of my portfolio construction
Update TPRE
Raptor holding Third Point Reinsurance (TPRE) reported the quarter after close yesterday. There is much to like and a little to remain concerned about. The top of the house news is good. Net income is up to 50.5 million for
GLRE Update
Greenlight Re (David Einhorn’s insurance company) reported earnings after close on Tuesday. The bad news first: GLRE reported a quarterly loss of 24 million for the quarter. The good news (and it is very good news) is that the company
Insurance Part 6 of 6 Allied World Assurance Company Holdings, AG (AWH)
Today we talk about my current most favorite insurance company for the dollar. That is Allied World Assurance Company Holdings, AG (AWH). I’ve addressed over and over again the importance of profitable underwriting. AWH is the champ in that area. Average
Insurance Part 5 of 6 W.R. Berkley Corporation (WRB)
My favorite industry for new investment is insurance. A well run insurance company gets to invest free money, known as float, at no or even negative cost of funds. My second most favorite insurance company at the moment is W.R. Berkley
Insurance Part 4 of 6 AXIS Capital Holdings Limited (AXS)
Today we explore my third most favorite insurance company at the moment, AXIS Capital Holdings Limited (AXS). The key to making big money in insurance is the underwriting. An insurance company with strong underwriting discipline gains access to invest-able float at
Insurance Part 3 of 6 The Travelers Companies, Inc. (TRV)
Today we look at the third of our 6 insurance companies. Today’s selection is The Travelers Companies, Inc. (TRV). All six of our insurance companies share a couple of common traits: underwriting discipline and a 10 year history of growing book
Insurance part 2 of 6 PartnerRe Ltd. (PRE)
The Lizard King loves insurance companies. A well run insurance company benefits from “float”, the ability to invest its liabilities until they come due. Today we are looking at a reinsurance firm, PartnerRe Ltd. (PRE). PRE has the worst combined ratio