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  • uploads///rps
    Company & Industry Overviews

    A Look at the PGIM Ultra-Short Bond ETF

    PGIM, which distributes Prudential Financial’s (PRU) retail products, has introduced the PGIM Ultra-Short Bond ETF, an actively managed fund focusing on capital appreciation and income generation.

    By Raymond Anderson
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    Company & Industry Overviews

    What Prudential’s Planning for Its Investment Management Business

    Prudential’s investment management division is deploying money to expand its offerings and reach.

    By Raymond Anderson
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    Company & Industry Overviews

    Prudential’s Asset Management Business

    Prudential Financial’s (PRU) asset management business is overseen by PGIM.

    By Raymond Anderson
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    Company & Industry Overviews

    What Prudential Has in Mind for US Workplace Solutions

    Prudential Financial’s (PRU) US Workplace Solutions division comprises two businesses.

    By Raymond Anderson
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    Earnings Report

    How Does American Financial Group Compare to Its Peers?

    American Financial Group (AFG) has outperformed most of its ETFs based on price movement and PE ratio. The PE ratios of AFG, KBWP, KIE, and XMLV are 16.1x, 11.0x, 12.5x, and 20.2x, respectively.

    By Gabriel Kane
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    Earnings Report

    American Financial Group’s Revenue Rose, but Income Fell in 3Q15

    After its 3Q15 earnings report, which included a 55.3% drop in net income, American Financial Group (AFG) fell by 0.59% to close at $72.27 per share on November 3, 2015.

    By Gabriel Kane
  • uploads///Rel val
    Company & Industry Overviews

    How Discounted Valuations Affected AIG in 3Q17

    On an NTM (next-12-months) basis, American International Group (AIG) has a price-to-earnings ratio of ~11.6x compared to its peers’ average of ~13.9x, which implies lower valuations.

    By Raymond Anderson
  • uploads///Commercial
    Earnings Report

    Progressive’s Commercial Lines Expand on Transport Sector in 3Q15

    Progressive’s (PGR) Commercial Lines business revenues increased by 12.1% to $511 million in 3Q15, up from $456 million in 3Q14.

    By Robert Karr
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    Company & Industry Overviews

    Analyzing AIG’s Individual Retirement Business

    American International Group’s (AIG) Individual Retirement business posted pretax operating income of $1.8 billion in 9M17 versus $1.7 billion in 9M16, reflecting a rise of 5.0%.

    By Raymond Anderson
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    Financials

    What impacts an insurer’s profits?

    In 2013, the top ten life and health insurance companies had just above 50% market share in terms of direct premiums written.

    By Sean Millard
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    Basic Materials

    Underwriting profit: First leg of the profit machine

    An underwriting loss is not unusual for an insurance company. In a soft pricing environment, pricing of P&C products is low due to intense competition.

    By Sean Millard
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    Consumer

    How cost structures and distribution channels impact profit

    As customers use Internet-based aggregators to purchase insurance policies, insurers use online sales to interact directly with customers and reduce costs.

    By Sean Millard
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    Financials

    Making sense of an insurer’s liabilities

    Policyholder liabilities, or policyholder reserves, represent the future claims that may arise for the pool of policies the insurer writes.

    By Sean Millard
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    Company & Industry Overviews

    Why PayPal Stock Opened 9.5% Higher Today

    After yesterday’s Q3 earnings release, PayPal (PYPL) stock opened at $105.91, up 9.5%. PYPL stock closed at $96.64 yesterday day.

    By Shankar Iyer
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    Consumer

    Dow Jones Ends Second Consecutive Week in Red

    The DJIA (Dow Jones Industrial Average) fell over 0.9% in the week ending on October 4, 2019. It closed trading at $26,573.72.

    By Adam Rogers
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    Consumer

    Why Buffett’s Next Elephant Could Actually Be a Dragon

    In his annual shareholder letter, Buffett lamented the lack of big acquisition opportunities.

    By Mohit Oberoi, CFA
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    Consumer

    Did Buffett Miss the Bus on Apple?

    Berkshire Hathaway (BRK-B) is Apple’s second-largest shareholder.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Buffett’s Love for Banking Stocks Continued in Q4

    Berkshire Hathaway is the largest shareholder in Wells Fargo (WFC), Bank of America (BAC), U.S. Bancorp (USB), and American Express (AXP).

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Key Changes in Berkshire Hathaway’s Holdings in Q3

    Looking at Berkshire Hathaway’s third-quarter 13F, the company added more Apple shares and added a new position in JPMorgan Chase.

    By Mohit Oberoi, CFA
  • uploads///rel val
    Company & Industry Overviews

    How Prudential Financial’s Valuations Stack Up Compared to Peers

    The price-to-book ratio of Prudential Financial (PRU) stood at 0.85x on an NTM (next-12-month) basis, which is lower than the peer average of 1.22x.

    By Raymond Anderson
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    Company & Industry Overviews

    Analyzing Prudential’s Life Planner Division’s Performance

    Prudential Financial’s (PRU) Life Planner operations saw adjusted operating income of $416 million in 1Q18, while in 1Q17 it was $408 million.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    What Analysts Are Saying about American International Group

    In March 2018, American International Group (AIG) is being tracked by 18 analysts, seven of whom have suggested “holds” on the stock.

    By Raymond Anderson
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    Company & Industry Overviews

    AIG Announces Changes in Leadership Positions

    On March 1, 2018, American International Group (AIG) announced that changes had been made to its leadership positions.

    By Raymond Anderson
  • uploads///ROIC
    Company & Industry Overviews

    What to Expect from the Insurance Industry in 2018

    Emerging markets such as China provide a great growth opportunity for property and casualty insurers.

    By Raymond Anderson
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    Company & Industry Overviews

    AIG Canada Made the Top 100 Employers List

    AIG’s Canadian business unit, AIG Canada, announced on February 13, 2018, that it had made the list of Canada’s Top 100 Employers of the younger generation.

    By Raymond Anderson
  • uploads///analysts
    Earnings Report

    How Analysts Are Rating Chubb

    Chubb (CB) is tracked by 18 analysts in February 2018. One analyst has recommended a “sell” for the stock, and one has recommended a “hold.”

    By Raymond Anderson
  • uploads///Rel Val
    Earnings Report

    Understanding Chubb’s Premium Valuations

    Chubb’s (CB) PE (price-to-earnings) ratio is 14.37x on an NTM (next 12-month) basis. The average for its competitors was 13.36x.

    By Raymond Anderson
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    Earnings Report

    Chubb’s Performance in 4Q17: Earnings, Revenues

    Chubb (CB) has reported 4Q17 EPS of $3.17, which exceeds analysts’ estimate by $0.88. The company’s core operating income in 4Q17 was $1.48 billion.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    Comparing AIG’s Ratings with Other Insurance Players

    Of 20 analysts tracking AIG, seven suggested a “strong buy,” nine recommended a “hold,” one suggested a “sell,” and three rated AIG stock as a “buy.”

    By Raymond Anderson
  • uploads///BVPS
    Company & Industry Overviews

    American International Group: New Chief Underwriting Officer

    In January 2018, Tom Bolt will become AIG’s chief underwriting officer. Bolt has more than 30 years of experience in the reinsurance and insurance industry.

    By Raymond Anderson
  • uploads///beta
    Company & Industry Overviews

    Behind AIG’s Life Insurance Division

    AIG’s Life Insurance division generated other income of $34.0 million in 9M17 versus $43.0 million in 9M16, which implies a substantial 21.0% fall.

    By Raymond Anderson
  • uploads///net income margin
    Company & Industry Overviews

    AIG’s Group Retirement Business Saw Rise in Premiums and Deposits

    In 9M17 and 9M16, American International Group’s (AIG) Group Retirement business garnered $21.0 million in premiums, reflecting no change.

    By Raymond Anderson
  • uploads///ROA
    Company & Industry Overviews

    How AIG’s Businesses Performed in 9M17

    American International Group’s (AIG) Liability and Financial Lines business saw a decline in net premiums earned to $6.5 billion in 9M17 from $8.1 billion in 9M16, reflecting a 20.0% fall.

    By Raymond Anderson
  • uploads///beta
    Earnings Report

    Chubb Limited Reported a Marginal Rise in Total Revenues

    Chubb Limited (CB) reported a marginal 1.0% year-over-year rise in its total revenues in 3Q17 compared to 3Q16.

    By Raymond Anderson
  • uploads///net income margin
    Earnings Report

    Chubb’s Overseas General Insurance Posted a Decline in Income

    Chubb reported a net income margin of ~12.4% over the last 12 months.

    By Aaron Hemsworth
  • uploads///CB price to cash flow ratio
    Earnings Report

    Chubb Limited Reported a Net Loss in 3Q17

    Chubb Limited (CB) reported its 3Q17 earnings on October 26, 2017. The insurance giant reported a loss of $0.13 per share in 3Q17.

    By Raymond Anderson
  • uploads///expected net income
    Earnings Report

    Understanding AIG’s Reshuffling and Technology Initiatives

    Brian Duperreault, chief executive officer of American International Group (AIG), has taken a major step by reshuffling the company into three units.

    By Raymond Anderson
  • uploads///AIG actual vs esti
    Earnings Report

    AIG in 3Q17: What We Can Expect

    American International Group (AIG) is expected to announce its earnings for 3Q17 on November 2, 2017. Wall Street analysts have provided a high estimate of $0.90 for AIG’s 3Q17 EPS.

    By Raymond Anderson
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    Financials

    Insurance on the Street: What Analysts Think of the Giants

    Lincoln National is covered by 14 analysts, of which four have rated the stock a “strong buy,” three have given a “buy” rating, and seven have given a “hold.”

    By Raymond Anderson
  • uploads///rel val
    Financials

    Weighing Chubb’s Valuation beside Those of Other Insurance Giants

    Chubb’s one-year forward PE ratio stands at 13.15x, compared with the peer average of 12.09x, which means that Chubb is trading at a premium valuation.

    By Raymond Anderson
  • uploads///rel val
    Financials

    Understanding the Total Asset Balances of Insurance Giants

    As of December 31, 2016, Chubb (CB) had total assets totaling $159.7 billion, compared with its total assets of $162.9 billion as of June 30, 2017.

    By Raymond Anderson
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    Miscellaneous

    The Top Dividend-Growing Financial Sector Stocks

    Mercury General (MCY) has consistently recorded revenue growth since fiscal 2011, except for a minor decline in fiscal 2015

    By Amanda Lawrence
  • uploads///Valuations
    Macroeconomic Analysis

    Strong Operating Performance, Lower Valuations Expand ACE

    ACE stock returned ~15% to investors over the past three months. It focuses on serving retail and corporate clients in insurance and reinsurance products.

    By Robert Karr
  • uploads///y pm
    Earnings Report

    Alleghany’s Revenue and Income Fall in 3Q15

    After its 3Q15 earnings report, Alleghany fell by 0.29% to close at $501.09 per share as of November 3, 2015.

    By Gabriel Kane
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    Earnings Report

    Hartford’s 3Q15: Resilience in Mutual Funds and Talcott Resolution

    Hartford (HIG) reported core earnings of its mutual funds division at $22 million in 3Q15, similar to the prior year’s corresponding quarterly earnings.

    By Robert Karr
  • uploads///Stock performance
    Earnings Report

    Hartford Financial Down on Catastrophe Losses, Investment Income

    Hartford Financial Services Group (HIG) reported its 3Q15 earnings on October 26. With operating income per share of $0.86, the company missed Wall Street analysts’ estimates.

    By Robert Karr
  • uploads///PGR valuation
    Earnings Report

    How Progressive Commands Premium Valuations on Higher Margins

    Progressive (PGR) reported 3Q15 earnings per share of $0.47, a 6% decrease over the third quarter of 2015.

    By Robert Karr
  • uploads///Diversification
    Miscellaneous

    ACE and Chubb Possess Complementary Strengths

    ACE has substantial international operations, with a presence in 54 countries. In contrast, Chubb has a more US-centric model.

    By Robert Karr
  • uploads///Stock performance
    Earnings Report

    Progressive Stock Advances on 2Q15 Earnings

    Progressive Corporation (PGR) reported its second-quarter earnings on July 17. The firm reported net income of $363 million and revenues of $5.25 billion, up by 13.4% over 2Q14.

    By Robert Karr
  • uploads///Combined ratio
    Miscellaneous

    ACE–Chubb Combined Entity to Occupy Enviable Industry Position

    The combined entity will become the world’s number one property and casualty insurance company by underwriting income, with total underwriting income of $3.3 billion.

    By Robert Karr
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    Macroeconomic Analysis

    A Closer Look at the Costliest Catastrophes

    Hurricanes Sandy, Ike, and Andrew remain near the top of the list of the costliest catastrophes in terms of insured losses.

    By Sean Millard
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    Macroeconomic Analysis

    Making Sense of Economic and Insured Losses

    Insured losses are the ones that impact the profitability of insurance companies.

    By Sean Millard
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    Macroeconomic Analysis

    How Catastrophes Impact a P&C Insurer’s Combined Ratio

    The percentage points for catastrophe losses in the combined ratio have increased in recent years.

    By Sean Millard
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    Macroeconomic Analysis

    Catastrophe Losses and Profitability of P&C Insurers

    Catastrophe losses are one of the key risks to P&C insurers because these losses negatively impact profitability and capital.

    By Sean Millard
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    Macroeconomic Analysis

    Higher Premium Rates in Personal Auto and Home Insurance Lines

    Auto insurance and homeowner’s insurance form two important product types of the personal lines business.

    By Sean Millard
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    Macroeconomic Analysis

    Personal Lines Rates Were Up 2% in February

    The US personal lines businesses have seen improved profitability from the 2011 levels.

    By Sean Millard
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    Macroeconomic Analysis

    How Underwriting Cycles Impact the Top Line and the Bottom Line

    The underwriting cycle moves between hard and soft market conditions, which have different sets of characteristics that determine the profitability of the insurance industry.

    By Sean Millard
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    Macroeconomic Analysis

    The Underwriting Profits of a Property and Casualty Insurer

    The property and casualty insurance business is cyclical in nature. The underwriting cycle alternates between two phases: the hard market and the soft market.

    By Sean Millard
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    Company & Industry Overviews

    MetLife is a key player in the US group insurance business

    MetLife is the market leader in the Large market with ~30% of the market share, while its market share is slightly above 5% in the Middle market.

    By Sean Millard
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