Thanks very much for this.  Throughout the presentation I was wondering how they would attract business in the first place.  This was raised in the Q&A. From what I recall, they said that 1) by virtue of their locale amidst "Cayman Captives" (I'm not sure precisely refers to but have an idea based on context) they would be able to pick up business; and 2) their generalist approach will enable them to craft "personalized" policies.

One thing I don't like is that Yahoo Finance shows insider holding only 2% of the company. 

So is this an inchoate MKL?  MKL : GLRE as Gayner : Einhorn as specialty insurance : reinsurance?  Both (in GLRE's case, claim to) focus on disciplined insurance writing and on growing book value .

oildog, are you able to help me make more sense of this company and its future prospects?

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Hi Kevin, did you arrive at $45 by assuming there'll be a reversion to LUK's 5-year P/B average?