My thoughts precisely. As I understand it, most of the balance sheet is cash/bonds. Notwithstanding rules that require a certain level/ type of cash/ bonds to be held in order to run an insurance business in a certain jurisdiction, there is huge scope to allocate to the equity investment side.
I also am not advocating this. We do not have that expertise. But other people like Buffett do and it must be a possibility at this stage in the insurance cylce that someone with deep pockets looks at a relatively pristine balance sheet (from the asset side at least) and says I'll have some of that.
K
Ps i think you will be lucky to get 50% in SPP
QBE Price at posting:
$11.98 Sentiment: Buy Disclosure: Held
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