Philosophy
INSURANCE
Insurance will always be a main component of our strategy. We own and continue to search for insurance companies that have an underwriting-for-profit culture with an added emphasis on profitably growing its volume over time.
MANAGEMENT APPROACH
We employ a decentralized management approach where overall capital allocation decisions are made at the holding company level and operating decisions are made at the company level. We seek subsidiaries that are managed by experienced individuals operating with a long-term attitude, and make it a point not to interfere with day-to-day operations.
EQUITY INVESTMENTS
We evaluate equities in the same manner as we do all businesses. We use a value discipline to identify companies with durable competitive advantages that are offered in the market at attractive prices. We take a patient, long-term view and embrace long holding periods.
OPERATING BUSINESSES
We are looking for operating businesses that have good economic characteristics, strong free cash flow and management in place. One important factor that differentiates our approach is our long-term nature. We aim to hold businesses forever and can provide a stable and permanent home for a business owner’s life work.
