The Company is an insurance holding company engaged through its subsidiaries in a variety of nonparticipating ordinary life insurance products, supplemental health insurance products and Annuity products.
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Fool UK
Recs
As a former insurance actuary, I like:
(1) A business model in which the company serves identified niches for life insurance, where it costs less to acquire new business compared to competitors, providing a healthier profit margin.
(2) A strategy of reducing it's emphasis on its health insurance business, thus focusing on what it writes well - life insurance.
(3) Turning an underwriting profit which reduces TMK's need to rely fully on investment income to offset insurance losses.
(4) Strong management which owns a healthy stake in the TMK
(5) Low debt to equity (0.2), ROE = 13.6 surpasses industry, 3 year avg EPS growth surpasses industry, P/B = 1.0, P/E TTM = 7.6 , selling at 16% discount to Morningstar's recently reduced fair value.
Projected dividend is 1.4%. I think this company is a keeper.