U.S. Insurance: Recap of Insurers Presenting at Barclays Financial Services Conference; Top Picks
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Rating Summary:
12 Buy, 21 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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U.S. Insurance: Recap of Insurers Presenting at Barclays Financial Services Conference
Analyst, Jay Gelb, commented after the conclusion of the conference, saying that Insurers presented a 'mostly optimistic' earnings outlook despite low interest rates.
"Among the property-casualty insurers, Travelers (NYSE: TRV) was positive on the commercial P&C rate environment (P&C rate increases accelerated slightly in 3Q), and RenaissanceRe (NYSE: RNR) repurchased stock in 3Q during hurricane season for the first time. Life insurers continue to generate reasonably attractive returns despite the impact of low interest rates, and the pace of share buybacks appears to be increasing." (TRV sees $100M from Isaac, RNR doesn't see meaningful event for reinsurers)
Overall, Gelb believes that near-term potential bodes better for P&C Insurers vs. Life Insurers, citing less exposure to low interest rates.
Barclays names ACE Ltd (NYSE: ACE), Arch Capital (Nasdaq: ACGL), and Chubb (NYSE: CB) as top P&C insurance stock picks based on strong underwriting results.
For Insurance Brokers, Barclays likes Marsh & McLennan (NYSE: MMC). Top Picks in the Life Insurers division include MetLife (NYSE: MET), AFLAC (NYSE: AFL) and Ameriprise Financial (NYSE: AMP)
Analyst, Jay Gelb, commented after the conclusion of the conference, saying that Insurers presented a 'mostly optimistic' earnings outlook despite low interest rates.
"Among the property-casualty insurers, Travelers (NYSE: TRV) was positive on the commercial P&C rate environment (P&C rate increases accelerated slightly in 3Q), and RenaissanceRe (NYSE: RNR) repurchased stock in 3Q during hurricane season for the first time. Life insurers continue to generate reasonably attractive returns despite the impact of low interest rates, and the pace of share buybacks appears to be increasing." (TRV sees $100M from Isaac, RNR doesn't see meaningful event for reinsurers)
Overall, Gelb believes that near-term potential bodes better for P&C Insurers vs. Life Insurers, citing less exposure to low interest rates.
Barclays names ACE Ltd (NYSE: ACE), Arch Capital (Nasdaq: ACGL), and Chubb (NYSE: CB) as top P&C insurance stock picks based on strong underwriting results.
For Insurance Brokers, Barclays likes Marsh & McLennan (NYSE: MMC). Top Picks in the Life Insurers division include MetLife (NYSE: MET), AFLAC (NYSE: AFL) and Ameriprise Financial (NYSE: AMP)
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