BMO cuts estimates, price targets on basket of insurers

|By:, SA News Editor

via Bloomberg First Word

Citing higher catastrophe losses thanks to the largest number of Q1 weather events in more than five years, analyst Charles Sebaski cuts his Q1 EPS estimates on nine U.S. property & casualty players: Arch Capital (ACGL -0.7%), AIG (AIG -0.5%), Aon (AON +0.8%), Axis (AXS -0.8%), Brown & Brown (BRO +0.3%), Chubb (CB -0.1%), Marsh & McLennan (MMC +0.3%), Hanover (THG -0.5%), Travelers (TRV +0.5%).

He lowers price targets on ACGL, AON, CB, JRVR, MMC, and THG

Wells Fargo's Elyse Greenspan has a different view, saying Q1 cat losses should be relatively light.