undervalued insurance stock, page-29

"On the reinsurance they certainly appear to have a lot of it."

Excessive reinsurance can hinder good money being used for operational use. Cover is hard to calculate and administer; but you much prefer more cover than minimal loss coverage.

Its a good % mix. Low overheads and no workers comp, although I believe workers comp is a good business - particularly those that are TMF scheme agets, but for CIX the mix is great for growth.