Analyst bearish on London (re)insurers
A "profound" change in the underlying dynamics of the global (re)insurance sector means that markets should reconsider their approach to investing in London (re)insurers, according to stockbroker Peel Hunt.
The prevailing wisdom among (re)insurance equity analysts is that the sector is an attractive investment opportunity in a broader environment of lacklustre economic growth.
The story goes that a low catastrophe burden and improved margins driven by price increases on many business lines, especially property catastrophe, should improve profitability.
But in...
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