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Property & casualty insurers could see earnings fall by an average of 26% after Hurricane...

Property & casualty insurers could see earnings fall by an average of 26% after Hurricane Sandy, Morgan Stanley says, cutting estimates by more than 40% each for Allstate (ALL), Chubb (CB) and Travelers (TRV); ACE and AIG also could take a hit. The firm's favorite P&C broker is Marsh & McLennan (MMC), which it says offers 15%-plus EPS growth and a ~3% dividend yield at an attractive valuation.
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    MS: "We note there is little cushion left for future 4Q cat losses with 2 months remaining."

     

    At the same time quality P&C insurers and basically all Bermuda reinsurers have been reporting excellent earnings this year because of sustained increased pricing and the benign cat year. But alas the focus of MS is on quarterly performance.
    31 Oct 2012, 06:15 PM Reply Like
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