Geez it really has collapsed. Queensland has massacred its value. it is supposed to be 1 of the big 3 insurers down there so $14.4 billion seems well under capitalised and under fair value.
SUN really need to move from Brisbane to Sydney.
Think of the value they are squandering being down in Brisbane.
They should be price at about $19 or $27 billion IMHo to be one of the big 3.
IAG and QBE appear to do better based out of Sydney as they are.
SUN Price at posting:
$11.20 Sentiment: Buy Disclosure: Held
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