Warren Buffett's purchase of a 6.4% stake in Chubb makes perfect sense as the insurer checks all the boxes of the Oracle of Omaha's investment criteria, according to Deutsche Bank.
Deutsche Bank said Chubb has a disciplined approach to underwriting and capital allocation and, in the near term, should benefit from earned pricing above loss costs, strong investment income and growth in its international operations. "Chubb has been one of the best-performing insurance stocks in the U.S. over the past 20 years, thanks to its long-term track record of creating value for shareholders, growing book value per share plus dividends at 10% per annum," Montazeri said.
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