If you start counting goodwill then you dont need numbers at all - just go by what the acquiring company's opinion is of what theyve acquired. To compare companies fairly - especially in the same industry - just remove it. When you do VTA just becomes an avg insurance company stock- except that the insiders are buying.
If you are looking for insurance company bargains SMAN SKP UNAM are selling for well below book even without intangibles.
If you like more risk MIIX is selling at 80 cents with a book of 3.81 and its had two profitible quarters in a row. For disclosure i recently bought several thousand shares, but am waiting to hear more from the co before further investment.