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MikeDDKing

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MikeDDKing

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Re: None

Thursday, 06/22/2006 10:01:15 PM

Thursday, June 22, 2006 10:01:15 PM

Post# of 39
I think FMMH is a great value at $37/share. Here are a few thoughts on this stock:
- Since it is in the midwest it doesn't have the hurricane risk that many insurance companies have.
- The price has been steadily increasing since they had their IPO last year.
- The BV for this stock is $31.82
- They are adding market share. For Q1 net premiums earned rose 4.9% and premiums written increased 8.4%.
- They reinsure although I haven't found information regarding the terms (e.g. level of risk taken on by the reinsurer).
- If you annualize their earnings from Q1 and assume a PE of 12, their value would be $91.20!

Mike

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