Today, we’re reviewing one of our favorite ways to invest…
Longtime readers know our founder Porter Stansberry called property and casualty (P&C) insurance the “world’s best business.” Insurers collect premiums up front… And the best ones make more than what they eventually pay out in claims. Plus, insurers can invest the money they hold – called “float” – and keep the gains. Today’s company is a perfect example of how well this works…
W.R. Berkley (WRB) is a $20 billion insurance giant. It sells P&C insurance in more than 60 countries worldwide. W.R. Berkley became a titan in the industry due to its ability to consistently grow its book value and return on float. And its stellar team of underwriters has helped it maintain its standing… The company posted record quarterly underwriting income of $274 million in the first quarter, helping net income skyrocket nearly 160% to $591 million.
As you can see, WRB shares are performing well. They’re up nearly 50% over the past two years… And they recently broke out to a fresh all-time high. It’s more proof that insurance is still the world’s best business…
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Source: Daily Wealth’s Market Notes