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Progressive Corporation (The) (PGR)
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Fairfax Financial Holdings Limited Subordinate Voting Shares (FFH)
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Intact Financial Corporation (IFC)
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Arch Capital Group Ltd. (ACGL)
Q: In January, you compared FFH to BN/BAM, saying, "If rates fall it may be able to make more deals, AND, its assets owned already may increase in value further." Do you still hold to this glass-half-full outlook, or should we be concerned that the (dominant) insurance side of FFH's business will be penalized for a lowered outlook?
5i Research Answer:
We continue to believe that rates falling can act as a tailwind for the company as it can make...