Sign in

    Bart Dziarski • RBC Capital Markets

    Bart Dziarski's questions to Brookfield Corp (BN) leadership

    Bart Dziarski's questions to Brookfield Corp (BN) leadership • Q2 2025

    Question

    Bart Dziarski of RBC Capital Markets inquired about Brookfield's strategy to scale its P&C insurance business to $30-50 billion in equity and the source of its perceived competitive advantage in pricing risk.

    Answer

    Nicholas Goodman, President & CFO of Brookfield, explained that growth will initially be organic, focusing on specific product lines where Brookfield's operational expertise provides a competitive edge. He stated this deep understanding of underlying assets allows for better risk pricing without increasing the overall risk profile, leveraging their long-standing operator experience.

    Ask Fintool Equity Research AI

    Bart Dziarski's questions to Brookfield Corp (BN) leadership • Q2 2025

    Question

    Bart Dziarski of RBC Capital Markets inquired about Brookfield's strategy to scale its P&C insurance business to $30-50 billion of equity and the nature of its competitive pricing advantage in that sector.

    Answer

    Nicholas Goodman, President & CFO of Brookfield, explained that the growth will initially be organic, focusing on specific P&C lines where Brookfield's deep operational expertise in underlying assets provides a competitive advantage. This expertise allows for better risk assessment and pricing, leading to a sub-100 combined ratio and attractive float, without increasing the overall risk profile. Inorganic opportunities may be considered in the future.

    Ask Fintool Equity Research AI

    Bart Dziarski's questions to BROOKFIELD ASSET MANAGEMENT LTD (BAM) leadership

    Bart Dziarski's questions to BROOKFIELD ASSET MANAGEMENT LTD (BAM) leadership • Q2 2025

    Question

    Bart Dziarski from RBC Capital Markets followed up on fundraising, asking about the new evergreen private equity strategy and what its success might imply for the structure of Brookfield Business Partners (BBU) in the future.

    Answer

    President Connor Teskey positioned the new semi-liquid private equity fund as a complementary product that broadens their investor base. He emphasized that Brookfield's PE strategy, focused on high-quality, cash-generative businesses, is well-suited for retail investors and the current market. He did not comment on potential structural changes for BBU.

    Ask Fintool Equity Research AI

    Bart Dziarski's questions to Brookfield Business Partners LP (BBU) leadership

    Bart Dziarski's questions to Brookfield Business Partners LP (BBU) leadership • Q2 2025

    Question

    Bart Dziarski from RBC Capital Markets questioned the secondary transaction, asking how the three specific assets were selected and how the approximately 9% discount to NAV was determined in the context of current market pricing.

    Answer

    CFO Jaspreet Dehl explained that the assets were chosen based on BBU's outsized ownership, with the process overseen by an independent board committee that hired financial advisors to ensure fairness. She noted the 8.6% discount is highly accretive given BBU's own trading discount and stated that while secondary market discounts fluctuate, a 10% average is historically normal, making the transaction favorable.

    Ask Fintool Equity Research AI