I think the underperformance is when NWLI is compared to other insurance companies. For instance, here are the approximate 1-year returns for some insurance companies, including NWLI:
NWLI - 38%
MET - 59%
HIG - 64%
PRU - 73%
ANAT - 80%
PFG - 82%
LNC - 105%
So the underperformance is frustrating looking at these results. But the question is...which one of these would an investor buy now?
Same old discussion...why? Why is this a public company when it is run as if it were private? Why pay an almost non-existent dividend? If the goal is to increase book value - why not buy back shares at less than 1/2 of book value? Why not engage, instead of ignoring, the investment community?
It is no wonder that some might want Mr. Moody to magically disappear when all of these things are being done intentionally.
To me, it is very clear where the responsibility for these thing lie.
The fear of higher rates is affecting much of the credit universe...
Check out AFSI-PA and AGIIL.
Earnings okay. Quote from management - "Darn those insured who keep dying!!".
MET, PRU, HIG, LNC, PFG, PL, etc. all up big with the jump in rates.
NWLI bringing up the rear as usual.
Stockton, Detroit, Puerto Rico, etc.?
There is a lot of fear out in muni-land and unfortunately AGO is feeling the effects.