Australian Insurers Still Look Attractive -- Market Talk
Dow Jones
Jan 14
0246 GMT - Yield-driven investors are likely to remain attracted to Australian insurers in the short term on the chance of higher-than-expected interim dividends, Macquarie analysts say. They point out that weather over the recent December half was very positive for IAG and Suncorp, without natural catastrophes that can hit Australian customers. They write in a note that this creates upside risk to ordinary dividends. Macquarie prefers IAG over Suncorp due to the latter's lack of reinsurance. Macquarie raises its target price on IAG by 8.75% to A$8.70 and on Suncorp by 5.9% to A$18.00. IAG is up 1.0% at A$8.485, while Suncorp rises 0.5% to A$19.27. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 21:46 ET (02:46 GMT)
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