For the long's with patience -
From the AFR 5/1/18 -
After years of painful change in QBE, Alleron's chief investment officer believes that a simplified, more focused company provides a great back-to-the future opportunity to improve risk outcomes and returns to shareholders.
QBE CEO Pat Regan's sale of the troubled Latin American business for $100 million above book vale in 2017 got the fund manager interested - "a change in the quality of earnings was taking place" - and a new reinsurance program will improve the quality of earnings "similar to that of the early 1990's.
With a valuation of 1.1 times book value, Alleron believes there is "minimal downside risk but potential for significant gains" if management can execute its strategy.
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For the long's with patience - From the AFR 5/1/18 - After years...
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