Actuarial Valuation of Property/Casualty Insurance Companies [Discussion]

The valuation of property/casualty insurance companies is a topic that has been neglected in the actuarial, financial, and economic communities. As Mr. Sturgis points out, there has been a notable increase in property/casualty insurance company acquisition and merger activity. Hence, his paper represents a needed and timely addition to the existing body of literature, and we hope that it provides the impetus for further research in this area.