The firm reiterated that
PublicInvest views the group's disposal price of subsidiary Uni.
"The disposal price is in line with the P/BV (price-to-book-value) of 1.50 times, which we have ascribed in the valuation of its general insurance business in our sum-of-parts valuation of
"The changes in insurance industry landscape from the new Financial Services Act 2013 and de-tariffing of motor insurance premiums by 2016 will make it more challenging for smaller general insurance players," said PublicInvest.
The firm said
Most Popular Stories
- Dmytro Firtash, Ukrainian Billionaire, Arrested in Vienna
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Koch Brothers Step up Anti-Obamacare Campaign
- FDIC Sues Big Banks Over Rate Manipulation
- Obama's Overtime Initiative Praised, Condemned
- Liberty Media Drops Sirius Bid
- Republicans Warn Obama on Immigration
- West Readies Harsh Sanctions Against Russia
- Calumet Photo Files for Bankruptcy
- Uli Hoeness, Bayern Munich President, Gets Prison for Tax Evasion