Amid a rally that has tended to prefer value names that are more likely to benefit from sector-wide tailwinds (US commercial pricing), those with premium values in part justified by previous assumptions on property cat margins have underperformed.
Amid a rally that has tended to prefer value names that are more likely to benefit from sector-wide tailwinds (US commercial pricing), those with premium values in part justified by previous assumptions on property cat margins have underperformed.