The company handles worker's compensation insurance needs across many states.Headquartered in Bermuda, its main business activities include underwriting primary workers' compensation policies, underwriting workers' compensation reinsurance and excess insurance policies, and providing fee-based management and other services to self-insured entities.
PE 2.5 PB 0.5 EV/EBIDTA 2.233 ROE 22.09% Debt-equity ratio 0.387 high insider holding of 32% current ratio 4.86
The valuations are compelling and with competitors like AIG in trouble,I am very bullish on this counter.
The article gauging the economy is fascinating for its coverage of the effect of recession on the industry
"What a Recession Would Mean for Workers Compensation—While exposure and investment income may be adversely affected, a recession, if it occurs, is likely to place additional downward pressure on claim frequency. Recessions may also place downward pressure on indemnity and medical severity, although the evidence here is less clear."
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