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Recently, CNBC’s Jim Cramer weighed in on the undervalued global insurer, Chubb, which happens to be a recent addition to Warren Buffett’s mystery stock portfolio. Despite Chubb’s impressive year-to-date rise and substantial gain over the past 12 months, Cramer believes that the stock is still flying under the radar at a mere 12 times forward earnings. With Chubb’s strong presence in both personal and commercial property and casualty insurance, along with 60% of its business coming from the U.S. and a growing footprint in Asia, the potential for growth is undeniable.
Moreover, the revelation that Buffett’s Berkshire Hathaway acquired nearly 26 million shares of Chubb sent shockwaves through the market, adding further momentum to the stock. With Berkshire’s track record of success in the insurance industry, this move signals a vote of confidence in Chubb’s future prospects.
On top of that, Cramer speculates that Buffett may continue to increase his stake in Chubb, propelling the stock even higher. With Berkshire’s existing insurance portfolio encompassing big names like Geico, General Re, and various home and life insurance services, it’s clear that Buffett sees significant value in Chubb’s offerings.
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