Core Insights - Aflac Incorporated (AFL) has expanded its share repurchase program by adding 100 million shares to the existing 30.9 million, bringing the total buyback capacity to approximately 130.9 million shares, indicating management's confidence in the company's long-term prospects [1][8] - In Q2, Aflac repurchased 7.9 million shares for $829 million and declared a dividend of 58 cents per share, with a dividend yield of 2.24%, surpassing the industry average of 2.05% [2][8] - Aflac ended Q2 with $7 billion in cash and cash equivalents, an 11.8% increase from year-end 2024, and maintained a total debt-to-capital ratio of 24.7%, below the industry average [3] Financial Performance - Adjusted net investment income rose to $1 billion in Q2, with the U.S. segment's pre-tax profit margin improving to 21.6% from 21.1% in 2024 [3] - Aflac Japan reported an 18.7% year-over-year sales increase to $236 million in H1 2025, driven by sales momentum from Miraito and new product launches [4][8] Industry Context - Other insurers like Aon plc and Marsh & McLennan are also engaging in shareholder-friendly initiatives, including share repurchase programs and dividends [5] - Aon repurchased 0.7 million shares for approximately $250 million in Q2, while Marsh & McLennan bought back 1.4 million shares worth $300 million [6] Valuation and Estimates - Aflac shares have gained 2.2% year-to-date, slightly outperforming the industry growth of 2% [7] - The company trades at a forward price-to-earnings ratio of 14.91, above the industry average of 12.14, with a Zacks Consensus Estimate for 2025 earnings at $6.81 per share, reflecting a 5.6% decline from the previous year [10][11]

Company Overview - Investors Title Company (NASDAQ: ITIC) is one of the largest title insurance companies in the United States, generating net premiums written of $204 million in FY 2024 and almost $101 million in the first half of the fiscal year [1] Investment Focus - The investment group European Small Cap Ideas focuses on high-quality investment opportunities in the small-cap space, emphasizing capital gains and dividend income for continuous cash flow [1] Portfolio Features - The group offers two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio, along with weekly updates and educational content on European investing opportunities [1]

I have a long-term "strong buy" rating on Markel (NYSE: MKL ) based on attractive valuation and their strong culture. The "Berkshire-like" model acquires new relevance as the OG steps down. Specialty insurance is hard to disrupt, and there is a Striving to compound knowledge. Long-time fan of Warren and Charlie. Always invert. "To finish first, you must first finish". Investing own and family funds for +20 years. Senior finance roles at public and private corporations for most of that time. Analyst's Disclo ...

Core Insights - The author possesses a strong academic background in economics and politics, focusing on economic development, and has 36 years of executive management experience in the insurance and reinsurance sectors, particularly in Global and Asia Pacific markets, as well as expertise in climate change and ESG [1]. Group 1 - The author has extensive knowledge in the insurance and reinsurance industries, indicating a deep understanding of market dynamics and trends [1]. - The author's experience spans over three decades, suggesting a wealth of insights into economic development and its implications for investment opportunities [1].

Core Viewpoint - Fairfax Financial Holdings Limited has successfully completed an offering of C$400 million in 4.45% Senior Notes due 2035 and C$300 million in 5.10% Senior Notes due 2055, totaling C$700 million in Senior Notes [1][2]. Group 1: Offering Details - The Senior Notes were offered through a syndicate of dealers led by National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and TD Securities Inc. as joint bookrunners [2]. - The Senior Notes are unsecured obligations of Fairfax [2]. Group 2: Use of Proceeds - Fairfax intends to use the net proceeds from the offering to refinance, repay, or redeem outstanding debt, equity, or other corporate obligations, pursue potential acquisition or investment opportunities, and for general corporate purposes [3]. - Specific determinations regarding the debt, equity, or corporate obligations to be repaid or redeemed have not yet been made, nor have decisions been made regarding specific acquisitions or investments [3]. Group 3: Company Overview - Fairfax is a holding company primarily engaged in property and casualty insurance and reinsurance, along with associated investment management [5].

Financial Highlights - Total Assets reached $13 billion as of June 30, 2025[7, 20] - Shareholders' Equity stood at $2.3 billion as of June 30, 2025[7, 20] - Cash & Invested Assets amounted to $4.3 billion as of June 30, 2025[7, 35] - Gross Premiums Written (TTM ended June 30, 2025) were $4.6 billion[7, 11] Performance & Growth - Book Value Growth from 2022 to 2024 was 37%[7] - The average Combined Ratio from 2018 to 2024 was 87.7%[7] - Gross premiums written growth of $234 million, a 9% increase, from the first half of 2024[22] - Book value per diluted common share increased by 1.1% from $21.79 on December 31, 2024, to $22.04 on June 30, 2025[22] Segment Breakdown (TTM ended June 30, 2025) - Insurance segment accounted for $3.674 billion, representing 79% of Gross Premiums Written[10] - Reinsurance segment accounted for $964 million, representing 21% of Gross Premiums Written[12] Capital Management - The company returned $133 million of capital to common shareholders in the six months ended June 30, 2025, including $111 million in share repurchases and $22 million in dividends[22]

About Globe Life: Globe Life (NYSE: GL) is headquartered in McKinney, TX, and has more than 16,000 insurance agents and 3,600 corporate employees. With a mission to Make Tomorrow Better, Globe Life and its subsidiary companies issue more life insurance policies and have more policyholders than any other life insurance company in the country, with more than 17 million policies in force (excluding reinsurance companies; as reported by S&P Global Market Intelligence 2024). Globe Life's insurance subsidiaries i ...

Group 1 - Fidelis Insurance Holdings Limited (FIHL) has been added to the Zacks Rank 5 (Strong Sell) List due to a 42.9% downward revision in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Flowco Holdings Inc. (FLOC) is also on the Zacks Rank 5 (Strong Sell) List, with a 3.4% downward revision in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - WhiteHorse Finance, Inc. (WHF) has been included in the Zacks Rank 5 (Strong Sell) List, experiencing a 4.1% downward revision in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2]

Group 1 - The core thesis on Lemonade, Inc. (NYSE: LMND) is that it is transforming a historically volatile, capital-intensive commodity into a learning system that improves its economics as it scales [1] - The company is positioned as a tech insurer, but its real value lies in its ability to learn and adapt policy by policy [1] Group 2 - The article emphasizes the importance of understanding how great businesses create long-term value and the focus on identifying mispriced quality companies [1] - It highlights the disciplined, fundamentals-first approach to investing, which is grounded in long-term thinking and resilience across market cycles [1]

All of the companies that have reached the trillion-dollar level are technology businesses -- except one. Earlier in 2025, Berkshire Hathaway (BRK.A 1.59%) (BRK.B 1.50%), the conglomerate led by Warren Buffett, became the first non-technology company to reach the elusive thirteen-digit valuation level. Berkshire reached an all-time high in late April, and then CEO and legendary investor Warren Buffett announced his intention to step aside at the end of the year. Since that time, Berkshire has dropped by 14% ...