Most insurers trade well above the book value of their assets though right?
I am aware of how subjective book value can be of course.
QBE and TWR are the exception rather than the norm what I try to look for is a trigger for recovery of earnings in a depressed industry (it can be very difficult). Holding something like QBE or TWR for the last 5 years would have been painful.
In the case of TWR it's the shored up balance sheet, the negative sentiment around ongoing chch claims/legal action and the likelihood we are nearer the end of the Christchurch saga than the beginning. As always though I am in for the long haul - there may be some speedbumps along the way.
TWR Price at posting:
60.0¢ Sentiment: None Disclosure: Not Held
(20min delay)
