Below are the three companies in the Property & Casualty Insurance industry with the lowest price to book ratios. Often companies with the lowest ratio present the greatest value to investors.

Affirmative Insurance Holdings ranks lowest with a a price to book ratio of 0.11. 21st Century is next with a a price to book ratio of 0.45. SeaBright Insurance Holdings ranks third lowest with a a price to book ratio of 0.48.

Stewart Information Services follows with a a price to book ratio of 0.50, and Assured Guaranty rounds out the bottom five with a a price to book ratio of 0.54.

SmarTrend recommended that its subscribers protect gains by selling shares of Affirmative Insurance Holdings on November 16th, 2011 by issuing a Downtrend alert when the shares were trading at $1.22. Since that call, shares of Affirmative Insurance Holdings have fallen 58.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.