I agree with you - a buyback is great for long term unit...

I agree with you - a buyback is great for long term unit holders, however can the cash be used to further acquire and more importantly what?
Revenue streams (premiums) should be looked at first before the alternative of buybacks and dare I say special dividends for the most effective use of an organisations cash. Perhaps for CIX, more JV's (profitable ones) in niche markets.....

- I would prefer a buyback over cash anyday. Thats just my opinion though.

Keep up the posts Kit. I am watching QBE's space, i can see yet another deal for them.