Maybe investors are starting to realise insurance companies are cyclical like miners. This company had the stars aligned for many years, favorable tort reforms, low claims, low natural disasters, high insurance margins. Golden times but management failed to take advantage of that. Top of the cycle uk acquisitions, incompetent asian business dealings, inferior board structure and poor investment returns etc.
The share price looks cheap, but that is not enough to call it a buy. It needs sustained growth outlook but i cannot see how this will be achieved.
price target, page-22
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Last
$7.55 |
Change
0.100(1.34%) |
Mkt cap ! $17.89B | |||
| Open | High | Low | Value | Volume |
| $7.47 | $7.56 | $7.45 | $90.29M | 11.97M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 79817 | $7.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.55 | 40984 | 4 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| IAG (ASX) Chart |