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Our Thoughts on the Insurance Industry

publication date: Apr 25, 2021
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Image Source: AIG. 

Shares of the SPDR S&P Insurance ETF (KIE) have trailed the performance of the S&P 500 (SPY) dramatically during the past 15 years. Our favorite insurer is Berkshire Hathaway's (BRK.B), and we value its B shares is $229 as of the latest update (the high end of our fair value estimate range is $275); the equity is included the simulated Best Ideas Newsletter portfolio as of this writing. We wouldn't expect to add any pure-play insurer to the simulated Best Ideas Newsletter portfolio without a significant and adequate margin of safety, at prices near the low end of the fair value range. In general, we think we can do much better elsewhere.

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