The last twelve months have not been good for P&C insurers in general, or Chubb (CB)
in particular, as investors remain concerned about limited premium
growth potential, claims inflation, reserve adequacy, and the prospect
of value-destroying M&A. As it pertains to Chubb in particular, I
think these concerns are overstated and I continue to believe that these
shares remain undervalued relative to long-term earnings growth
potential and the quality of the franchise. With fair value up into the
mid-$150’s, I believe there’s still an argument for buying these shares.
Continue here:
Chubb Still Offers Some Value As The U.S. Market Improves
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