Amlin has reclaimed the highest premium to tangible book value
in our P&C universe. The (re)insurer's crown slipped last
year after the sector's heavy cat losses and the poor
performance of its continental acquisition, ACI.
Click to enlarge The London market (re)insurer is currently valued at a premium close to 60 percent of its 2011 year-end net tangible assets (NTA) (see graph).
This compares favourably to current analyst favourites Lancashire and Hiscox, which are both currently valued at around 1.4x...
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