I thought tis was kind of od. WTM announced in September they were realigning all their reinsurance business, and to bering various subsidiaries..worldwide....all under one name and one entity - Sirius Group.
This is all fine and good. But what strikes me is why thge rush? Between time announced and time completed, it took WTM a mere 22 business days to do this. They had to roll up these subsidiaries....all with different names, different accounts, some in different countries..to get a legal papers filed with regulatory plaves..probably in every country they operate in....and maybe even in every State they do business in.....and they did this in 22 business days? NOTHING goes fast with regulators and paperwwork. Even if it is just "in name" only change.
I dunno...just seems odd that WTM did a full court press to get this done in 22 days...when there seems no reson I can see.....of why it had to be done in "warp speed".
No business left? they own 20% of SYA......they own 76% of OB.......they own a $33 BILLION of assets, money manager in White Mountain Advisors......and they have a decent sized reinsurance copmpany in Sirius Re.
WTM is trading around $409. I figure book value is coser to $530 now.
And I guess that if you remove all debt.....WTNM is sitting on about $1.5 BILLION of cash.
Plus, all their bon portfolios expoded up recently.
I am very happy in here from mid 390's. WTM trades better than AAPL.