Morning Report Monday 13 July 2015
How does the Insurance Sector look after Warren Buffet’s foray into IAG?
Warren Buffet recently took a strategic position in IAG, which not surprisingly appears to be a better deal for him (Berkshire Hathaway) than IAG. The performance of the individual companies within the insurance sector, year to date, has been very diverse for an index +1.65%, with at the extremes QBE +23% and IAG -11%. Simply, the market has voted for companies with offshore exposure/growth (QBE & AMP), as opposed to local high yielding stocks (IAG & SUN). The obvious question is - Will this pronounced trend continue, or is it approaching exhaustion? The best way answer the question is to start by briefly evaluating the 4 individual Insurancecompanies:
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