“Insurance stocks are priced as if today's fat profits last forever, but underwriting is a cyclical, mediocre business and regulators and loss inflation will bite.”
“The shares of too many publicly traded insurance companies are priced today as though the good times will roll on forever. Chaucer must have known insurance underwriting was a mediocre, cyclical industry.”
Prices are point-in-time snapshots from the named provider. The verdict compares the return since entry against the band above.