Goldman Sachs Shifts Preferences Among European Reinsurers -- Market Talk

Dow Jones

2025/03/24

1028 GMT - The best-placed European reinsurers in a post-peak property and casualty reinsurance margin cycle are Hannover Re and Scor, Goldman Sachs says in a research note, initiating both stocks with a buy rating. The brokerage downgrades Munich Re to neutral, aligning it with Swiss Re, as both have seen double-digit stock price increases on a 12-month basis. "We see some selective scope for earnings surprises, but in general we believe that consensus EPS upgrades will be harder to find in this environment, with outperformance instead being driven by relative rerating," the analysts write. They note that rate adequacy--an insurer's ability to charge premiums that reasonably cover the risks being insured--remains strong in a historical context. Germany's Hannover Re and France's Scor both rise by more than 1%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

March 24, 2025 06:28 ET (10:28 GMT)

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The brokerage downgrades Munich Re to neutral, aligning it with Swiss Re, as both have seen double-digit stock price increases on a 12-month basis. \"We see some selective scope for earnings surprises, but in general we believe that consensus EPS upgrades will be harder to find in this environment, with outperformance instead being driven by relative rerating,\" the analysts write. They note that rate adequacy--an insurer's ability to charge premiums that reasonably cover the risks being insured--remains strong in a historical context. Germany's Hannover Re and France's Scor both rise by more than 1%. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 24, 2025 06:28 ET (10:28 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs Shifts Preferences Among European Reinsurers -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs Shifts Preferences Among European Reinsurers -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-03-24 18:28</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1028 GMT - The best-placed European reinsurers in a post-peak property and casualty reinsurance margin cycle are Hannover Re and Scor, Goldman Sachs says in a research note, initiating both stocks with a buy rating. The brokerage downgrades Munich Re to neutral, aligning it with Swiss Re, as both have seen double-digit stock price increases on a 12-month basis. \"We see some selective scope for earnings surprises, but in general we believe that consensus EPS upgrades will be harder to find in this environment, with outperformance instead being driven by relative rerating,\" the analysts write. They note that rate adequacy--an insurer's ability to charge premiums that reasonably cover the risks being insured--remains strong in a historical context. Germany's Hannover Re and France's Scor both rise by more than 1%. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 24, 2025 06:28 ET (10:28 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SCRYY","symbol_name":"SCOR","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2521471075","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2521471075","pubTimestamp":1742812080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1028 GMT - The best-placed European reinsurers in a post-peak property and casualty reinsurance margin cycle are Hannover Re and Scor, Goldman Sachs says in a research note, initiating both stocks with a buy rating. The brokerage downgrades Munich Re to neutral, aligning it with Swiss Re, as both have seen double-digit stock price increases on a 12-month basis. \"We see some selective scope for earnings surprises, but in general we believe that consensus EPS upgrades will be harder to find in this environment, with outperformance instead being driven by relative rerating,\" the analysts write. They note that rate adequacy--an insurer's ability to charge premiums that reasonably cover the risks being insured--remains strong in a historical context. Germany's Hannover Re and France's Scor both rise by more than 1%. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SCRYY":"SCOR","BK4019":"再保险","MURGY":"Muenchener Rueckver Ges","HVRRY":"Hannover Re","GS":"高盛"},"translate_title":"高盛改变欧洲再保险公司的偏好——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MURGY":0.9,"GS":1,"HVRRY":0.9,"SCRYY":0.9},"content_text":"1028 GMT - The best-placed European reinsurers in a post-peak property and casualty reinsurance margin cycle are Hannover Re and Scor, Goldman Sachs says in a research note, initiating both stocks with a buy rating. The brokerage downgrades Munich Re to neutral, aligning it with Swiss Re, as both have seen double-digit stock price increases on a 12-month basis. \"We see some selective scope for earnings surprises, but in general we believe that consensus EPS upgrades will be harder to find in this environment, with outperformance instead being driven by relative rerating,\" the analysts write. They note that rate adequacy--an insurer's ability to charge premiums that reasonably cover the risks being insured--remains strong in a historical context. Germany's Hannover Re and France's Scor both rise by more than 1%. (elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 24, 2025 06:28 ET (10:28 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}