London market undervalued - analyst
The London market (re)insurance sector is undervalued by around
30 to 40 percent based on a fundamental analysis of expected cost
of capital versus the sector's projected return on equity (RoE)
performance, according to Espirito Santo analyst Joy Ferneyhough.
Improved margins on the underwriting side and limited downside on
yields on the investment side mean that RoE levels within the
sector may have reached an "inflection point", which
could push underlying RoEs up to circa 15 to 16 percent,
Ferneyhough...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
