Core Insights - US health insurance companies continue to dominate the global insurance market, with UnitedHealth Group Inc. leading in net premiums written (NPW) for 2024 at $308.81 billion, reflecting a year-over-year increase of 6.2% [1][5] Group 1: Top Insurers by Net Premiums Written - Four of the top five insurers and five of the top ten are US health insurers, with Centene Corporation in second place at $159.87 billion, up 6.9% from 2023 [2] - Elevance Health, Inc. and Kaiser Foundation Health Plan Group hold the third and fourth positions, reporting premiums of $144.17 billion and $128.81 billion, respectively [2] - State Farm Group moved up to fifth place from seventh, with a significant NPW increase of 16.4% to $114.47 billion, the highest percentage increase among the top ten [3] - China Life Insurance (Group) Co. fell to seventh from fifth, reporting $110.02 billion in NPW [3] Group 2: Notable Changes in Rankings - Progressive Corp., ranked 12th, recorded the highest percentage increase among the top 25 insurers, with premiums rising 20.9% to $74.42 billion [4] - Nippon Life Insurance Co., ranked 24th, experienced the largest percentage decline, down 10.9% to $44.95 billion in NPW [4] Group 3: Top Insurers by Non-Banking Assets - Berkshire Hathaway Inc. leads the ranking of the world's top 25 insurers by non-banking assets, reporting $1.15 trillion, an increase of 7.8% year over year [6] - Allianz SE fell to second place with $1.09 trillion in assets, up 6.2% [6] - The top five non-banking asset rankings remained unchanged, with China Life Insurance (Group) Co., Ping An Insurance (Group) Co. of China Ltd., and Prudential Financial, Inc. in third, fourth, and fifth places, respectively [7] Group 4: Changes in Non-Banking Assets - Athene Holding Ltd. recorded the largest percentage increase in non-banking assets, rising 20.9% to $363.34 billion [7] - Japan's National Mutual Insurance Federation of Agricultural Cooperatives, ranked 21st, saw the largest decline, with assets falling 2.6% to $384.02 billion [8]

Core Insights - ClearBridge Investments released its fourth-quarter 2025 investor letter for the ClearBridge Large Cap Growth Strategy, emphasizing an investment philosophy focused on undervalued leading companies with growth potential [1] - Large-cap stocks showed strength in the quarter, driven by strong earnings from mega-cap companies and enthusiasm for generative AI, although the ClearBridge strategy underperformed the Russell 1000 Growth Index by approximately 900 basis points for the year [1] - The underperformance was attributed to underweight exposure to mega-cap AI beneficiaries and lower-quality AI-related names, with a quarterly lag of about 170 basis points [1] Company-Specific Insights - UnitedHealth Group Incorporated (NYSE:UNH) was highlighted in the investor letter, with a one-month return of 1.48% and a 52-week loss of 34.85%, closing at $341.70 per share on January 7, 2026, with a market capitalization of $309.525 billion [2] - The performance of UnitedHealth was disappointing, with the stock losing about half its value in 2025 due to negative sentiment and mismanagement, leading the company to exit the position in August [3] - Despite a long-term track record of solid returns, the company faced challenges in disclosure and execution issues, ultimately leading to a loss of confidence in its ability to navigate a turnaround under new leadership [3]

Among the Dow Jones Industrial Average's 30 time-tested components, there are two inexpensive industry leaders that can deliver for patient investors, as well as a highflier that may struggle to justify its premium valuation.It was another historic year for Wall Street's premier health barometer, the Dow Jones Industrial Average (^DJI +0.99%). The iconic index rose 13% last year and came within a stone's throw of eclipsing 49,000.In the 129 years since its inception, the Dow Jones has evolved from an indust ...

The company is a powerhouse in its sector, and has weathered numerous challenges recently.This is the time of year when market professionals and investors alike pore over lists of top analyst stock picks. One big company that appeared in such a lineup was UnitedHealth (UNH +2.03%), and in the process, its shares received a price target boost. That helped lift the stock by 2% on Tuesday. A healthy adjustmentThe UnitedHealth bull in this case is Bernstein SocGen's Lance Wilkes. Tuesday morning before market o ...

A new report from Hunterbrook Media investigates how the three biggest health care giants in the U.S.— CVS Health Corp. (NASDAQ:CVS) , UnitedHealth Group, Inc. (NYSE:UNH) and Cigna Group (NYSE:CI) — are allegedly using shell companies to hide billions of dollars that Hunterbrook says should be used to lower drug prices for patients.UNH stock is moving. See the chart and price action here. Benzinga reached out to CVS, Cigna and UnitedHealth for comment. CVS declined to comment, while Cigna and UnitedHealth d ...

格隆汇1月6日｜据英国天空新闻，美国私募股权公司TPG接近收购联合健康的Optum英国业务，交易价 值在12亿英镑至14亿英镑之间。知情人士称，该交易可能在未来几周内宣布，但尚未最终敲定，仍有可 能破裂。报道称，TPG可能会寻求将Optum UK与Nextech合并，后者是一家总部位于美国的电子病历软 件供应商。 ...

U.S. private equity firm TPG is close to acquiring UnitedHealth's Optum UK business, in a deal worth between 1.2 billion pounds ($1.62 billion) and 1.4 billion pounds, Sky News reported on Tuesday. ...

Core Insights - Spending on executive protection is increasing, indicating a growing concern for safety among high-profile individuals and companies [1] Group 1: Spending Trends - The rise in spending on executive protection includes not only traditional services like bodyguards and trained drivers but also a broader range of security measures [1] - Companies are investing in advanced technologies and services to enhance the safety of their executives, reflecting a shift in the approach to personal security [1] Group 2: Industry Implications - The increase in demand for executive protection services is likely to drive growth in the security industry, creating new opportunities for service providers [1] - As threats evolve, the industry may see a diversification of services offered, moving beyond physical protection to include cybersecurity and risk management solutions [1]

Core Insights - UnitedHealth Group Incorporated (UNH) has experienced a significant decline in stock value, falling 34.5% over the past year, which is worse than the industry's 28.4% decline and contrasts sharply with the S&P 500 Index's 16.9% growth [1][2] Financial Performance - The company has faced persistent cost pressures, rising utilization, regulatory scrutiny, and policy uncertainty, leading to multiple earnings misses and downward profit revisions [1][2] - The Zacks Consensus Estimate indicates a projected fourth-quarter earnings drop of 69.3% year-over-year to $2.09 per share, while revenue is expected to rise 12.7% to $113.64 billion [7] - For the full year 2025, earnings are estimated at $16.30 per share, reflecting a 41.1% decline, while revenues are projected to grow 11.9% to $448.03 billion [9] - Analysts expect a slight recovery in 2026, with earnings estimated at $17.60 per share, indicating nearly 8% growth, and revenues projected to rise 2.2% to $458.04 billion [10] Key Metrics - The medical care ratio (MCR) has increased significantly, from 82% in 2022 to nearly 90% in Q3 2025, which negatively impacts profitability [12] - Membership growth has slowed, with a decline of 3.9% in 2024, but is expected to rebound by 1.9% in 2025 [13] - Adjusted net margins have decreased sharply, projected at 3.3% for full-year 2025, with expectations of stabilization in 2026 [14] Market Position - UnitedHealth's forward P/E ratio stands at 19.07X, slightly below its five-year median but above the industry average of 15.84X, indicating mixed valuation perspectives [15] - The average analyst price target for UNH is $394.91, suggesting a potential upside of approximately 19%, although the wide target range reflects divided views on risk [17] Investor Sentiment - Recent insider buying by former CEO Stephen J. Hemsley and a $1.57 billion investment from Berkshire Hathaway indicate some confidence in the company's recovery potential [5][6] - However, the upcoming fourth-quarter earnings report is critical, as results falling short of expectations could lead to further selling pressure [11][19]

Core Insights - SGA's Global Growth Strategy portfolio returned -2.3% (Gross) and -2.5% (Net) in Q3 2025, underperforming against MSCI ACWI's 7.6% and MSCI ACWI Growth's 9.0% returns, primarily due to a lack of alignment with AI-driven market enthusiasm [1] - The investment objective focuses on high-quality growth businesses with expected mid-teens earnings growth and stable revenue and cash flow [1] Company-Specific Insights - UnitedHealth Group Incorporated (NYSE:UNH) is highlighted as a key stock, with a one-month return of 3.95% but a significant 34.51% loss over the past 52 weeks, closing at $336.40 per share with a market cap of $304.724 billion as of January 2, 2026 [2] - SGA maintained its position in UnitedHealth through a crisis, recognizing management's potential to correct mispricing issues, and added shares during price weakness while trimming gains as the stock rebounded [3] - UnitedHealth generated revenues exceeding $113 billion in Q3 2025, reflecting a 12% year-over-year growth driven by domestic membership expansion, although the company is viewed as less favorable compared to certain AI stocks with greater upside potential [4]