After reading note shared by @jinushah I am wondering why GIC is such an underperformer? It is available at fractional book value compared to 8x P/BV ICICI Lombard. Agreed that company is run by govt. employees who do not have passion and it is also evident that there is limited headroom for growth as it is has 75% market share in re-insurance. But still, it does not explains such pathetic valuations. Any strong anti-thesis is welcome.
| Subscribe To Our Free Newsletter |
