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MetLife, Inc. Message Board

bbarberayr 7 posts  |  Last Activity: Jun 27, 2016 2:30 PM Member since: Feb 26, 2007
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  • Since Thursday's close NWLI outperforming stocks like MFC, MET and AEG by 10% - 15%.

    Probably most holders are longer term in NWLI and more short-termers in the bigcaps playing the rate rise.

  • Reply to

    Annual

    by bbarberayr Jun 7, 2016 3:33 PM
    bbarberayr bbarberayr Jun 8, 2016 8:59 AM Flag

    With the company re-org, they are in a different spot now:

    http://www.nwlgi.com/NWLGI_financials.aspx?sub=letter

  • bbarberayr by bbarberayr Jun 7, 2016 3:33 PM Flag

    Reads to me like the son is putting things in place to better run the business and reward shareholders:

    "While we do not currently have any specific
    plans in place, the presence of NWLGI will
    facilitate strategic initiatives going forward
    such as forming new subsidiaries for business
    opportunities, acquiring other businesses, and
    providing for corporate finance and capital
    management levers."

  • Reply to

    Failed Strategy

    by dsouth7777 May 13, 2016 10:22 AM
    bbarberayr bbarberayr Jun 2, 2016 12:41 PM Flag

    ANAT is different because of it'sP&C business and P&C valuations have rebounded much better than life valuations.

    They still have the Moody discount, but their 2006 p/b of 0.9 has only dropped to a p/b of 0.7. Other pure P&C companies have rebounded better.

  • Reply to

    Failed Strategy

    by dsouth7777 May 13, 2016 10:22 AM
    bbarberayr bbarberayr Jun 2, 2016 9:07 AM Flag

    I agree, they are the cheapest. And there are reasons for that like the multiple vote shares, Moody poor capital management, etc.

    But these same issues have always existed and are the reason people have been able to buy shares so cheaply over NWLI's lifetime.

    If you look instead at the ration of a stock's P/B in the last cycle to now, the ratio's are pretty much in line.

    Eg. LNC 2006 p/b = 1.53, now 0.75
    MET 2006 p/b = 1.4, now 0.66
    NWLI 2006 p/b = 0.91, now 0.48

    So, the valuations have stayed in the same ratio with the industry over time.

    At some point, maybe in our lifetimes, the Moody's will change capital allocation policies or one of the heirs will want out or something, so there will be a 1-time winfall for the holders at that time as valuations move to more in line with the industry, but for now, the company is being run as it always has and valued as it always has, so we just have to trade with that in mind.

  • bbarberayr by bbarberayr Jun 1, 2016 7:37 PM Flag

    Looks like the deal for Chinese insurer Anbang to buy FGL is having some problems. Maybe it is just a hiccup in this process as Chinese companies aren't used to dealing with US regulators, or maybe they want to walk away.

    I'd like to see the FGL deal go through as it increases the scarcity value of life insurers and will make it easier for stocks like NWLI to go up once the interest environment turns.

  • Reply to

    Failed Strategy

    by dsouth7777 May 13, 2016 10:22 AM
    bbarberayr bbarberayr Jun 1, 2016 7:33 PM Flag

    batraa,

    Take a look at either stocks. Pretty sure that there is not 1 life insurer who is worth more than they wore 10 years ago. It is not a management issue unless coincidentally all life insurers hired poor CEO's in 2007.

    The reality is the valuation that the market is willing to pay for life insurers has gone down over the last 10 years due to fears about interest rates, etc.

MET
40.90+0.31(+0.76%)Aug 24 4:02 PMEDT