Strong NZ performance from IAG bodes well for TWR. Key metrics for IAG NZ 1H14 vs pcp - Premiums +18%, Underwriting profit +130%, Insurance profit +75%. Seriously benefiting from premium hikes post Christchurch. Talking to NZ friends, the inflation in premiums has been +20%pa for the last couple of years and commentary from the insurance companies suggests this will continue for another 2-3 years.
Some basic broker numbers I have picked up:
IAG trades at PE 12x, Div yield 5.5%, Price/NTA 4x.
TWR trading at PE 11x, Div yield 7%, Price /NTA 1.6x.
Time for me to do some more work I think!!
Add to My Watchlist
What is My Watchlist?
