Protective Life Corporation (NYSE:PL) is a provider of financial services primarily in the United States. The company reported impressive second quarter 2013 results Wednesday. Protective Life is currently trading at a 25% discount to its book value, despite having crystal clear earnings growth visibility. In this article I'll analyze why I strongly expect that the company will soon trade at par with its book value.
PL data by YCharts
Protective Life engages in the production, distribution, and administration of insurance and retirement products. The company operates in five different segments, which are life market, acquisitions, annuities, stable value products and asset protection.
As of June 30, 2013, 81% of its AUA (assets under administration) consists of fixed
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