The insurance industry and value investing are quite intertwined.
Berkshire Hathaway, Fairfax Financial and Markel Corp are insurance companies that are run by value investors.
What is the reason that value investors are drawn to the insurance industry? In a word: Float!
AIG (NYSE:AIG) is one of the largest insurance companies in the world and while not run in the manner of Berkshire and Fairfax, it is a company widely held by value investors today. The most noteworthy of thrdr is Bruce Berkowitz at the Fairholme Fund which has over 40% of its assets in AIG.
In the video below, Steve Forbes interviews former AIG chief Maurice R. Greenberg about building the largest insurer in the history of mankind, and delves into his early work with political leaders around the world.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys:: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.