Hints and tips:
...But reinsurance stocks are usually cheap as their earnings are not easy to predict (see: hurricanes). The real appeal of Everest’s stock for 2024 is threefold....
...My next pick was Everest Group, which is a reinsurer. So they are an insurance company for insurance companies. They do have a primary property casualty insurance unit, but mostly they’re reinsurance....
...They buy reinsurance to help cover their own exposures. This should make the impact on their earnings more manageable....
...Shares in Bermuda-based Aspen, Renaissance Re, Everest Re and Arch all rose on Monday on news of the Axa acquisition. “I think we’ll see more deals,” says Mr Sidhu....
...With Tropical Storm Harvey inundating the US Gulf coast with wind and rain, shares of major US property insurers and reinsurance companies are under pressure....
...Everest Re, a reinsurance company that offers protection for other insurers, dropped 16 per cent this month....
...Shares in companies expected to have plenty of exposure to the losses, such as Renaissance Re, Everest Re and Validus, all rose 4 per cent or more in New York....
...As well as Munich Re, analysts said Swiss Re, Hannover Re, Everest Re, Renaissance Re, Validus and XL Group would be among those affected, as will insurers at Lloyd’s of London....
...The higher premiums are drawing new entrants, including Everest Reinsurance, based in Bermuda, and Freedom Specialty Insurance of Scottsdale, Arizona....
International Edition