Insurance

July 09, 2012

Buy ($175)

Topics covered: Low Profitability and Low Interest Rates, Life and Property/Casualty Insurers, Insurance Reserves Adequacy, Commercial Line Brokers and Underwriters

Companies covered: The Travelers Companies, Inc. (NYSE:TRV), RenaissanceRe Holdings Ltd. (NYSE:RNR), Progressive Corporation (The) (NYSE:PGR), Chubb Corporation (The) (NYSE:CB), American International Group, Inc. (NYSE:AIG), Ace Limited (NYSE:ACE), Employers Holdings Inc (NYSE:EIG), Arch Capital Group Ltd. (NASDAQ:ACGL), W.R. Berkley Corporation (NYSE:WRB), Tower Group Inc., ProAssurance Corporation (NYSE:PRA), Markel Corporation (NYSE:MKL), Maiden Holdings, Ltd. (NASDAQ:MHLD), HCC Insurance Holdings, Inc. (NYSE:HCC), Brown & Brown, Inc. (NYSE:BRO), Arthur J. Gallagher & Co. (NYSE:AJG), Fidelity National Financial, Inc. (NYSE:FNF), First American Corporation (The) (NYSE:FAF), Unum Group (NYSE:UNM), Reinsurance Group of America, Incorporated (NYSE:RGA), Prudential Financial, Inc. (NYSE:PRU), Protective Life Corp., Principal Financial Group Inc (NYSE:PFG), MetLife, Inc. (NYSE:MET), Lincoln National Corporation (NYSE:LNC), General Electric Company (NYSE:GE), CNO Financial Group, Inc. (NYSE:CNO), Assurant, Inc. (NYSE:AIZ), Aflac Incorporated (NYSE:AFL), XL Group plc (NYSE:XL), Meadowbrook Insurance Group, Inc. (NYSE:MIG), Hartford Financial Services Group, Inc. (The) (NYSE:HIG), Allstate Corporation (The) (NYSE:ALL), Allied World Assurance Company Holdings, AG (NYSE:AWH), Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), Tata Motors Ltd (NYSE:TTM), TRW Automotive Holdings Corporation (NYSE:TRW), Sanofi (NYSE:SNY), Reed Elsevier PLC (NYSE:RUK), Moody's Corporation (NYSE:MCO), Walt Disney Company (The) (NYSE:DIS), American Express Company (NYSE:AXP), Autoliv, Inc. (NYSE:ALV), Willis Group Holdings Limited (NYSE:WSH), Marsh & McLennan Companies, Inc. (NYSE:MMC), The Navigators Group, Inc. (NASDAQ:NAVG), Bed Bath & Beyond Inc. (NASDAQ:BBBY), Yum! Brands, Inc. (NYSE:YUM), Exxon Mobil Corporation (NYSE:XOM), Eli Lilly and Company (NYSE:LLY), Home Depot, Inc. (The) (NYSE:HD), Devon Energy Corporation (NYSE:DVN), DIRECTV (NASDAQ:DTV), Chevron Corporation (NYSE:CVX), Coach, Inc. (NYSE:COH), CBS Corporation (NYSE:CBS), Endurance Specialty Holdings Ltd (NYSE:ENH)