You're not wrong.
Only problem is that the investment attributes of these insurance brokers, once little known, have now be largely "discovered" by the market.
I recall when you could buy these businesses on 12 and 13 times earnings.
Now they are at 20 times.
I think they are now at a level where they are probably a bit of a funding source for other bombed-out cyclicals (or, even, to build a cash buffer for what looks like could be a tough few years for equities).
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Last
$5.89 |
Change
-0.020(0.34%) |
Mkt cap ! $6.532B | |||
| Open | High | Low | Value | Volume |
| $5.87 | $5.91 | $5.86 | $1.511M | 256.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 6779 | $5.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.89 | 14610 | 28 |
View Market Depth
| Last trade - 11.13am 30/07/2025 (20 minute delay) ? |
| SDF (ASX) Chart |