if you think you can value these guys and know about the industry in under a year,you’re out of your mind. insurance is like a hole in the ground in a model. P&C is the easiest as the risk are short tailed so you can see their historical reserve builds to get an idea coupled with their combined ratios. Life is super long tailed plus you got to factor in equity/interest rate markets in addition to mortality risk and price resetting. cash flow is useless and book value is not too meaningful given the marked to market nature of insurance assets. yes, the original poster is a douche. good luck.
Chad, thank you so very much. Couldn’t have asked for anything better. I’ll pore over the document this weekend. Frank Arabia, Thanks for the input despite the insult.
@ OP: - if troll, I give you (4/10) - if seriously looking for help, I rate your attempt (2/10). I am voting for troll, because I can’t imagine someone being *that* tactless.
I’ve been in b-val for nearly 20 years and wouldn’t go near an insurance company valuation with a 40’ pole. As Frank pointed out, a very specialized industry from a valuation perspective.