Q: I owned these brokers for what I thought was a defensive play in my RRSP. They've both been hit this week on AI disruption. I'm not one to sell while under water, however it seems the barriers to entry are somewhat eroded quickly in the broker business if AI companies can offer direct to consumer insurance quotes and pass on commission savings to the customer etc.... I know it's very early innings and that this is hard to predict with any certainty, however do you see much more downside with these two stocks? Not sure I want to experience another 20-30% leg down here.

Q: Hi! Insurance brokers have taken a hit recently. Its seems the insurance cycle is against them for the foreseeable future. Companies like PGR have also taken a hit and seems' to be out of favor in the market, although the results did not seem alarming.

They, as well as the brokers I have listed, have a reputation to be be well managed and efficient and have had great returns historically. They do not reach these valuation levels often.

What are your views on the sector going forward and which companies would you recommend, if any?

Thank you!

Q: Can I get a current view on AJG?