Chubb Holds Steady in 2Q
Chubb turned in a solid second quarter. We estimate the annualized tangible return on equity at 17%, which supports our narrow moat rating and reinforces our view that Chubb is one of the strongest franchises in the insurance industry. We will maintain our $140 fair value estimate.Overall, the company’s property and casualty operations performed well. The combined ratio ticked up slightly to 88.4% from 88.0%, as a modest increase in the loss ratio was partially offset by a decline in the expens...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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