(Re)insurer stocks hit YTD highs
After a third consecutive quarter of benign natural catastrophe losses, many P&C (re)insurance stocks are trading at their highest levels this year as investors contemplate strong earnings and fresh capital returns.
"We expect to see capital management become more active, primarily in the form of share repurchase, given the current sub-book valuations for much of the group. With the peak of hurricane season now behind us, we expect share repurchase activity to pick up in Q3/Q4," explained JMP Securities analyst...
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