Property & Casualty (Re) Insurance

We believe our 13 member team makes us the largest group focused on Property & Casualty Insurance Equity research. Over the years our P&C team has consistently been top ranked in many of the relevant surveys including Greenwich (currently #1), Reuters and Institutional Investor ("Best of the Boutiques"). Our products include:

●  The IBNR Weekly - a well-regarded weekly newsletter
●  Quarterly Earnings Reports
●  Quarterly Model Books

●  Loss Reserve Analysis
●  Arranging management visits/conference calls
●  New analysts "training" sessions in our office


Latest P&C Reports and News

VR Q4:11, 2/5/2012
AON Q4:11, 2/5/2012
MKL Q4:11, 2/3/2012
BBT Acquires Crump, 2/3/2012
WRB Q4:11 Model, 2/3/2012

P&C Modelbook

Latest Earnings Models
2010 Schedule P Loss Reserve
Industry Statistics
Historical Price/Book Charts (updated quarterly)

Earnings Reports & Summaries

VR Q4:11, 2/5/2012
AON Q4:11, 2/5/2012
AON Q4:11 Earnings Summary, 2/3/2012

More

Industry Reviews
                                          Q3:11 Earnings Wrap-Up
  9M:11 TVC / Price Performance Q3:11 Net Investment Income 
  Q3:11 Bermuda Review Q3:11 Premium Growth  
  Q3:11 Broker Review 9M:11 Prior Period Development  
  Q3:11 Personal Lines Review 9M:11 Share Repurchases
  Q3:11 Regional Review Q3:11 U.S. Cats & H1:11 Cat "Creep"
  Lloyd's 2011 Review Q3 & 9M:11 Ex Cat AY Trends


Special Reports & Industry Thesis Articles

BBT Acquires Crump, 2/3/2012
Initial Take On Jan. 1, 2012 Reinsurance Renewals, 12/29/2011
Alleghany &Transatlantic Combine, 11/21/2011
Validus Revised Offer, 11/3/2011
2010 Expense Study, 10/20/2011

IBNR Insurance Weekly

IBNR Weekly #5, 2012, 2/2/2012
IBNR UNDERCOVERage #5, 2012, 2/2/2012
IBNR Table of Contents 2012, 2/2/2012

IBNR Referenced Material

RE Thai Estimate Change, 12/23/2012
SP Reinsurance Outlook Press Release, 1/25/2012
PRE Renewal Update, 1/25/2012
S&P Reinsurance Outlook, 1/25/2012
RE Q4:11 Cat Estimate Change, 1/24/2012

IBNR Hot Topics

Mergers & Acquisitions, 1/20/2012
Topics to Watch 2012, 1/19/2012
Industry Results, 1/5/2012
Cats Loss Estimates, 1/5/2012
Workers Compensation - California, 12/15/2011

Company Thesis Sheets

PC Company Thesis Sheets, 1/31/2012
RLI Company Thesis Sheet, 1/31/2012
TRV Company Thesis Sheet, 1/31/2012
CB Company Thesis Sheet, 1/31/2012

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