Performance Review
From our watch list dated February 28, 2014, we have the following performance of the listed stocks:
| Symbol | Name | 2014 | 2016 | % change |
| BRO | Brown & Brown | 30.1 | 31.48 | 4.58% |
| WSH | Willis Group | 41.16 | 44.61 | 8.38% |
| XL | XL Group plc | 30.4 | 34.28 | 12.76% |
| PKIN | Pekin Life | 11.99 | 12.4 | 3.42% |
| AXS | Axis Capital | 43.97 | 53.97 | 22.74% |
The average gain for the listed stocks was +10.38% as compared to the iShares U.S. Insurance ETF (IAK) which gained +4.25% over the same period of time (February 28, 2014 to February 21, 2016). Although we use IAK as a benchmark for performance, it should be noted that companies like WSH [now Willis Tower Watson (WLTW) after the merger in 2015], XL and AXS are not U.S. based insurance companies. The stock of interest at the time was Brown & Brown (BRO) which increased +4.58%.