1242 GMT - European reinsurers have little wiggle room this year given a tough start of the year due to weather-related losses, HSBC analysts say in a research note. The sector tends to underperform in the summer due to the uncertainty from the hurricane season, they note. Stocks have been on a bull run over the past two years and held up despite tariff turmoil but there is limited scope for earnings revision from here, analysts note. "We think the sub-sector has priced in all the 'good news' and we see limited room for re-rating," they note. HSBC cuts its rating on Munich Re and Hannover Re to hold from buy, joining Scor and Swiss Re. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 08:42 ET (12:42 GMT)
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