INSURANCE?

IIC

Nibbled some IIC (33.50) this morning. I was half-hearted and did not expect my bid to fill. Surprise, it was filled! The report was very strong, and numbers are revised upward. However, the market shows very little enthusiasm, likely because the outlook for P&C insurance sector remains lukewarm, and IIC is traded at a slight premium. Having said that, with the earning momentum, I think this one could reach $38-$40 in 12 month, plus about 2% dividend, not a bad return.