With many of the Bermudian, European and US wholesale insurers hitting 52 week highs last week, there is a definite shift in sentiment about the sector. It remains to be seen whether the shift is simply part of the overall market rally or a more structural shift in the markets view of the previously historic low tangible book multiples. A wide sample of firms in the reinsurance and wholesale insurance sectors are included in the graph below.
This blog represents my personal views and is not reflective of the views or opinions held by any company or employer I work for currently or have worked for in the past. The views expressed herein are based solely upon publicly available data. No views expressed herein should be taken as an endorsement to take any particular course of action in the markets. The basis of this blog is that different views should be expressed and readers make up their own minds on the what they believe and act accordingly.
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