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Jefferies lifts Munich Re FY profit to >€6.3bn following “sensational” Q1

Jefferies has lifted its full-year 2024 profit forecast for Munich Re by more than 25 percent and raised its share price target for the German reinsurer by more than €10 following what it described as a "sensational" first quarter.

Reinsurers and specialty commercial insurers drove US insurance composite 1.1 percent up last week

The North American insurance composite compiled by investment banks Stonybrook Capital and Weild & Co. outperformed the S&P 500 with seven out of 11 industry groups advancing in the week.

JMP maintains outperform on Hippo on path to profitability after sell-off

Matt Carletti of JMP Securities has reiterated his market outperform rating and price target of $25 on the stock of Hippo after a sell-off by investors this week, despite first quarter results that say core key performance indicators meet or beat expectations.

Markel’s Noble: Portfolio actions “beginning to bear fruit”

Investors responded favourably to Markel’s Q1 results, while its management provided a bullish outlook following underwriting actions taken on its US speciality business in the quarter, which included exiting lines and subclasses representing less than 2 percent of the insurance segment operations.

Root shares soar 20%+ as CEO Timm lauds “excellent” Q1 and analysts raise targets

Shares in Root were up over 20 percent on Wednesday morning after the insurtech reported its first ever operating profit, while management expressed confidence about continued growth and equity analysts increased their price targets following the exit of a turnaround phase.

European P&C stocks close out ugly April with majority in the red

Swiss Re recorded the largest fall among European (re)insurers in April amid a global equity sell-off.

US insurance index fell 1.1% amid rebound of Wall Street benchmarks

The North American insurance composite compiled by investment banks Stonybrook Capital and Weild & Co underperformed all major indices last week, with six of the 11 industry groups declining.

Aon shares down 9% after earnings miss amid early NFP close

Aon management said the early close of the NFP acquisition means fewer shares issued and benefits that will be realised a year earlier, but the firm’s stock traded down sharply likely reflecting the sale of shares issued in the transaction and investor reaction to an earnings miss amid lower organic growth in commercial risk solutions.

WTW shares down 4% despite earnings beat and confidence on ’24 targets

Shares in WTW were down around 4 percent on Thursday morning despite an earnings beat and reiteration of 2024 guidance for mid-single digit organic growth, a 22.5 to 23.5 percent adjusted operating margin, operating EPS of $15.40-$17.00 and free cash flow margin expansion.

Kemper’s stock trades up after earnings preannouncement

Shares in Kemper rose 4.5 percent on Wednesday morning as investors responded positively to the auto-focused carrier’s Q1 2024 earnings preannouncement, which included estimated net income and adjusted consolidated net operating income of between $65mn and $75mn.

Root stock down 38% from recent peak, Hippo off by around 18%

Shares in Root have traded down around 38 percent from their peak following the February release of its fourth quarter earnings, while shares in Hippo have slid by 18 percent.

US insurance stocks defy market downturn with 1.1% increase

The North American insurance composite compiled by Stonybrook Capital and Weild & Co advanced 1.1 percent last week, bucking the broader trend as most major Wall Street indices fell on new inflation concerns.

Marsh McLennan shares up 4% on strong organic growth-driven earnings beat

Shares in Marsh McLennan rose 4 percent on Thursday morning after the firm reported an earnings beat that included better-than-expected organic growth and adjusted operating income in its Risk and Insurance Services division, along with projections of stronger margin expansion in H2 2024.

Travelers closes down over 7% after earnings miss on cats and modest GL development revealed

Travelers shares closed Wednesday trading down 7.4 percent after the insurer reported a relatively moderate cat-driven Q1 earnings miss as it also highlighted modest increases in adverse development in liability coverages for recent accident years.

Jefferies cuts Gjensidige on Nordic winter weather losses

Jefferies has lowered its price target for Gjensidige by more than 5 percent on the back of expectations that the Nordic insurer will post a higher-than-expected combined ratio as a result of larger winter weather losses in the first quarter.

US insurance stocks pummelled last week amid inflation-driven sell-off in financial sector

The North American insurance composite compiled by Stonybrook Capital and Weild & Co fell 4.2 percent last week, trailing all major Wall Street indices, as financial sector shares suffered from a combination of uncertainty and disappointing inflation news.

R&Q share price slumps 45% on weak FY23 guidance

London-listed R&Q’s share price collapsed by 45 percent on Friday following news that the group is to sell its 49 percent stake in a corporate legacy joint venture with Obra Capital and that it expects to post a “significant pre-tax loss” for 2023.

Reinsurers and brokers lead losses in US composite amid market downturn

The North American insurance composite compiled by investment banks Stonybrook Capital and Weild & Co fell 1.0 percent last week, with all industry groups except personal lines insurers losing ground.

Root stock price climbs almost 10% as insurtech approaches $1bn market cap

Root’s stock price spiked by more than 10 percent on Wednesday to $68.11 per share, before falling back slightly as the insurtech’s market cap nears around $1bn and its share price has seen more than a ninefold increase since reporting fourth quarter results in February.

Root CEO Timm: Tech advantage becoming clear with strong results in recent quarters

Root CEO Alex Timm has said the insurtech appreciates the recent recognition it has received for its performance among investors, and argued that the auto specialist’s technology advantage is starting to become more evident as it outperforms the industry.

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