The latest drop is probably due to the recent hurricanes, other re-insurance companies are down too. I own quite a bit of AXS and RE in addition to Fairfax and BRK. I sold AIG after they announced an acquisition at a multiple above book (1.3x ? I don’t remember) while trading below tangible book. At that point, I new my thesis was broken. That was around $60/ share. Below $50, this gets interesting again, but I think I rather stick with adding to my existing holdings in the same sector.