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RE: TIB: Today I Bought (and Sold) - An Investors Journal #349 - Insurance, Russia, Brazil, US Telecom
Insurance has been a tough sector given rhe volatility of results due to catastrophic event exposures like those that are modeled like Hurricanes and especially those that are not like the wildfires. While it could lead to pricing power, margin is compressed in the short term.
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Interestingly the insurance stocks have been the ones holding up in the selloff in my portfolios. Specifically interesting is the performance of Swiss Re and Munich Re who carry a massive slice of the world's reinsurance risk. They are holding up - which means the catastrophe numbers are priced in and/or they have been able to jack up premiums well enough.
Even more surprising is how my Italian insurance stocks (other than Generali) are still positive.
QBE is a general insurer and is well diversified across geographies. What I like is they are an Australian Dollar hedge as a large slice of income is in US Dollar.