real-time news and commentary for investors
Wednesday, Sep 18
Guggenheim initiates coverage across insurance industry
- ACE, AmTrust Financial (AFSI), AllState (ALL), AON, Meadowbrook (MIG), Marsh & McLennan (MMC) are all started at Buy, while Argo Group (AGII), AIG, Maiden Holdings (MHLD), Travelers (TRV), Tower Group (TWGP), and XL Group (XL) are initiated at Hold.
- Tower Group plummets 27% after further delaying the release of financial statements until the week of October 7, and FBR speculates the reserve charge could be as high as $125M.