P&C Insurance Economics 103: Decomposition of ROE, Growth, and P/B

I quickly look at three insurane companies decomposing ROE drivers …

This is not investment advice. Please read the disclaimer. I might own discussed stock(s) currently or at a later time. I might transact in any securities at any time.

(see other Insurance Economics posts)

You find the pdf here.

High P/B multiples might be warranted if high returns on equity can be generated sustainably on a higher capital base, ie attractive growth.


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