Post #7524 by hclasvegas on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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Morningstar analyst's opinion on Chubb:

https://www.morningstar.com/company-reports/121634... (subscription required for full report)

In January 2016, ACE acquired Chubb in a deal valued at about $28 billion and assumed its name. From
a long-term perspective, we were most enthusiastic about the fact that the combination created a
moaty international insurer with exposure across most insurance lines for the first time, marking Chubb
as potentially the most attractive long-term core holding in the space from a fundamental point of view.

Chubb is one of the few companies with global footprint large enough to service multinational
corporations. Its network has created a barrier to entry for potential competitors.

Chubb's international operations benefit from significant growth opportunities.

Like its peers, Chubb is posting strong results at the moment amid a hard pricing environment and
higher interest rates. Annualized core tangible return on equity was impressive at 22%, but not out of
line with what we've seen from peers. We think the near-term outlook is bright for Chubb and see the
narrow-moat company as one of the strongest names in the space. We will maintain our $236 fair value
estimate and see shares as about fairly valued.

Chubb is trading at PB of 1.7, higher than BRK's 1.57.

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" We will maintain our $236 fair value
estimate and see shares as about fairly valued.

Chubb is trading at PB of 1.7, higher than BRK's 1.57."

If it was fairly valued at 236, what is it at 273?

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