Chubb has large exposure to municipal bonds through its investment portfolio. Write-downs or defaults of these securities would impair the company's results and equity position.Climate change introduces a new point of uncertainty for insurers with catastrophe exposure, and future returns could be
CNA has a long track record of poor underwriting in commercial lines.CNA has been dependent on the returns of its investment portfolio to alleviate poor underwriting.The significant influence that Loews has over CNA calls into question any efforts management has made to improve profitability.The
Retail energy margins remain under pressure on both sides of the Atlantic due to rising energy prices and competition.The recently completed 270 MW Lincs offshore wind farm is an expensive renewable energy source that requires government subsidies to support development. This could be problematic
Aristocrat is positioned well for emerging market growth with a strong line-up of gaming content.
Given his importance to the culture and dynamics of the firm, succession for CEO Bill Berkley may have a negative impact on the company's results. He is now in his late 60s.The investment in international opportunities creates a point of uncertainty, and results to date have been merely
Loblaw has handled elevated competition, but intensifying rivalry is still a long-term concern.
Progressive has continually pioneered ways to reach customers and segment their individual risks.
Travelers’ moat will sustain high returns even in a softening insurance pricing environment.
Markel's relatively large exposure to equities makes the company more vulnerable to swings in the market, and necessitates higher capital levels.The company's acquisitions have not always been easily integrated, and Alterra is an especially large deal.Markel's business model--achieving an
ACE is in position to benefit from an improvement in the insurance pricing market.