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Wells Fargo bullish on reinsurers during light hurricane season

Aug. 31, 2018 8:28 AM ETArch Capital Group Ltd. (ACGL) StockRNR, AXS, EG, ACGLBy: Liz Kiesche, SA News Editor6 Comments
  • Wells Fargo analyst Elyse Greenspan recommends going long on reinsurers and pairing that trade against insurance brokers given the relatively quiet hurricane season.
  • Greenspan recommends buying a group of reinsurers including Arch Capital (NASDAQ:ACGL), Axis Capital (NYSE:AXS), Everest Re (NYSE:RE) and RenaissanceRe (NYSE:RNR).
  • Q3-to-date global insured losses estimated at $10.8B-$16.6B, a below-average cat loss quarter, according to Wells Fargo.
  • If the rest of the season remains light, reinsurance stock should outperform in September and October, increasing earnings and book-value growth.
  • Source: Bloomberg First Word.
  • Previously: Aspen-Apollo deal may lead to more insurer M&A: KBW (Aug. 28)

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