ICC Holdings, Inc. (ICCH)

ICC Holdings, Inc. (ICCH) — VMCI valuation read

Headline read on ICCH: VMCI of 59/100 versus a Financial Services sector median of 50. The 9-point above-median position is what makes ICC Holdings, Inc. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on ICCH: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on ICCH: value (ICCH trades at 25.0x earnings, 39% above the Financial Services median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Financial Services median (10.0%)), and risk (net debt to EBITDA of -2.0x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Financial Services 12.0x baseline.

ICCH rose 2.7% over the trailing 7 days, with a -2.8% read on a 30-day basis.