Storms both real and figurative have been buffeting the insurance industry for some time now. Loose underwriting standards and a drive for market share have kept a lid on premium price increases, storms and natural disasters have been whacking the loss ratios and a low interest rate environment - combined with default worries at national and local levels - has hampered investment income.
In times like these,
W.R. Berkley (NYSE:
WRB) is a relatively safe harbor.
A Mix of News For Q2
In one very big respect, the second quarter was a bad one, but in many other ways it was a confirmation of real progress. Operating income was down about one-third from last year and that's the big negative take-away for investors.
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http://stocks.investopedia.com/stock-analysis/2011/Tempest-Tossed-Berkley-WRB-ALL-ACGL-BRK.A-PGR-XL0729.aspx
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