There’s been a lot of talk about the State Farm deal to invest in ADT, much of which I think misses the point. When you invest $1.2B in a company, the rationale isn’t “hey, we might get a few extra customers”. It’s “we expect the investment return to be above Continue Reading
Will Willis Win A Winning Buyer…Redux!
When the rumors of a Willis sale first emerged two years ago, I speculated that Aon might not be the only option. Since it’s been so long since that first post, I thought I’d re-share that post below with a little bit of additional commentary. First, when I suggested Gallagher Continue Reading
Looking At Potential Outcomes for the Future of The Hartford
This is going to be a challenging one to write. As you all probably know, Chubb has made an offer to acquire Hartford. I have a lot of history with, and respect for, both companies and have been a significant shareholder of both at times. I actually predicted this exact Continue Reading
Insuretech: PUREly Overvalued
Big news for insuretech today and it’s not good. PURE sold itself for $3.1B to Tokio Marine. This is a great outcome for PURE and they are to be congratulated on building such a successful business in a relatively short time (11 years). However, this is pretty terrible news for Continue Reading
Will Willis Win a Willing Buyer?
DISCLAIMER: This is not investment advice. Don’t take it as such!Also, I have not spoken to any of the companies mentioned below. All that follows is pure speculation on my part. Highlights:1) Willis Towers is now in play, whether they want to be or not.2) Aon pulled a master stroke Continue Reading