New Capital
Contrarian, deep value, long/short equity, special situations

Amlin - Undervalued Insurer With Better Than Berkshire Track Record And 6% Dividends

Company background

Amlin PLC (OTCPK:APLCY) is an independent insurer/reinsurer listed in London stock exchange under ticker AML. It is a £2.2bn market cap company with trading volume of c. £3m daily, thus providing sufficient liquidity for those considering larger positions (OTC listing in US has hardly any volume).

The company was founded in 1998 through a merger, of Angerstein Underwriting Trust and Murray Lawrence syndicate. However, the oldest part of the business (K J Coles Syndicate) dates from 1903.

Amlin's areas of operation are Catastrophe Reinsurance (40% of GPW in 2013), Marine and Aviation Insurance (20%), Commercial & Domestic P&C as well as International P&C (14%). Geographically the company operates globally with main markets being North America (34%...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details