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Best Buy Co., Inc. Message Board

scottbwest2000 3 posts  |  Last Activity: Jul 2, 2015 10:19 AM Member since: Aug 21, 2006
  • Reply to

    Positive Day

    by rpschom Jul 1, 2015 1:30 PM
    scottbwest2000 scottbwest2000 Jul 2, 2015 10:19 AM Flag

    rpschom, do you know if Allianz still has a position in Hartford? I recall that they invested/loaned at least $2B during the fall of 2008 when Hartford's annuity division was a problem.

  • Reply to

    Positive Day

    by rpschom Jul 1, 2015 1:30 PM
    scottbwest2000 scottbwest2000 Jul 1, 2015 1:36 PM Flag

    According to Chubb, ACE will be rebranding as Chubb once final merger approved, which makes acquisition of a large domestic insurer with great reputation (Chubb) much more palatable. I'm in the industry and didn't anticipate this.

    What are the odds that Hartford or others will also hook up? Merger mania in this industry may have longer legs (Tokio Fire announced acquisition of HCC 2 weeks ago), or this may be the largest deal of this cycle.

  • Reply to

    Should go up from here

    by paton May 7, 2015 1:08 PM
    scottbwest2000 scottbwest2000 May 15, 2015 6:09 PM Flag

    Purchased at 15.50 yesterday. Being in the insurance business, this is a big growth story. The national ins companies are afraid of adding additional to their coastal exposure.

    If storm activity stays down, they've better situated than most due to low hail/tornadic exposure and higher rates insuring along the coast. The underwriting seems to be very solid, so keep your fingers crossed. As to Florida, it will be interesting to see just how good the underwriting is when the state takes their next hurricane.

    We're headquartered in a major metro area (not Florida) deemed coastal and hurricanes don't impact our loss ratios catastrophically because we tend to write better homes. As does this company.
    disclaimer: we started writing their product 9 months ago.

BBY
33.50+0.03(+0.09%)Jul 2 4:05 PMEDT