Markets Review: Hiscox and Scor make gains as Euro P&C stocks end green streakShares in Hiscox and Scor booked small gains last week while the majority of European P&C stocks ended a three-week winning streak, as the prospect of tighter lockdowns cut in to optimism over improving economic conditions and markets reacted to a pro-policyholder verdict in the UK’s business interruption insurance case.
Supreme Court ruling “alleviates uncertainty” hanging over Hiscox share priceThe Supreme Court’s final ruling on the Financial Conduct Authority’s business interruption test case has “put to bed” the uncertainty hanging over Hiscox’s ultimate losses from the event, according to a note from Berenberg.
Hiscox shares fall 5% following Supreme Court judgmentHiscox’s share price fell nearly 6 percent in the immediate aftermath of this morning’s Supreme Court judgment in the Financial Conduct Authority (FCA)’s Covid-19 business interruption test case appeal.
Lemonade prices and upsizes public offeringLemonade has priced an offering of 4.8 million shares of its common stock at $165.00 a share, an increase on the previously announced offering size of 4.5 million shares.
Jefferies cuts Axa price target on domestic headwindsJefferies has cut its target share price for Axa on the back of regulatory and legislative headwinds in the insurer’s domestic French market, which analysts say will hinder management’s efforts to run the group and will apply pressure on earnings.
Markets Review: Europe’s P&C stocks clock best week since NovemberEuropean P&C stocks jumped in the first week of trading in the new year as investors shrugged off rising coronavirus cases and fresh lockdowns to bet on a bigger US stimulus package to aid global financial recovery under a Democrat administration.
Lemonade hits record share price after Motley Fool recommendationInsurtech Lemonade saw its share price hit a record high during Thursday trading as investors responded to the company being pinpointed as “Stock of the Month” by online investment advisory the Motley Fool.
Wall Street points higher as stimulus hopes outweigh chaos in WashingtonUS stock futures rose on Thursday as investors looked past political unrest and clashes in Washington to focus on prospects for higher government spending and more pandemic aid.
James River leads US P&C stock rallyAlmost all US-listed property casualty stocks posted strong gains in trading Wednesday (6 January), as the industry’s shares outperformed the gains of the wider markets.
P&C stocks fall despite positive pricing outlook in 1.1 reportsUS and European P&C insurance stocks dipped along with the benchmark indices in the first session of the new year yesterday, despite positive commentary from the sector’s intermediaries on broad rate increases at 1 January in a tightening reinsurance market and continued momentum in underlying insurance pricing.
US P&C stocks trail benchmarks in turbulent 2020Wall Street’s leading P&C carriers underperformed the trio of US benchmark indexes over 2020 as investors closed the book on a turbulent year marked by the coronavirus pandemic, political uncertainty and recession.
European P&C stocks suffer worst year since financial crisisEuropean P&C stocks suffered their worst year since the 2008 financial crisis despite a fourth-quarter rally as the Covid-19 pandemic and Brexit uncertainty hit stocks during a turbulent 12 months for sector investors.
London P&C stocks gain in first session since Brexit trade deal and US stimulus billLondon-listed (re)insurance stocks rose sharply this morning as the UK’s blue-chip benchmark looks set to hit its highest level since early March in the first session since the post-Brexit trade deal was confirmed and news of a fresh $900bn stimulus bill in the US.
R&Q founders sell down stakesAlan Quilter, CEO of London-listed Randall & Quilter Investment Holdings Ltd (R&Q), has sold 400,000 shares in the firm netting £700,000, according to a 21 December regulatory disclosure with the London Stock Exchange.
Markets Review: Brexit fears push Euro P&C stocks lowerEuropean (re)insurance equities closed lower last week to end five straight weeks of gains as a fresh wave of investor jitters set in on the rapidly approaching deadline for Brexit negotiations.
Conduit Re outperforms London-listed peers on LSE debutShares in newly floated reinsurance start-up Conduit Re closed lower on their London debut but outperformed London-listed peers in a choppy day for European insurance equities.
Markets Review: Mapfre led gains in muted week for Euro P&C stocksShares in Spanish (re)insurer Mapfre gained over 8 percent in an otherwise muted week of trading for European P&C stocks amid investor caution over Brexit negotiations and new coronavirus measures.
European P&C stocks dip on Brexit tensionsEuropean (re)insurance stocks edged lower on Thursday after a record finish in the US, as Brexit tensions and trade uncertainty dented investor optimism.
Conduit floats on LSE in £826mn IPOConduit has raised £826mn ($1.1bn) in its initial public offering on the London Stock Exchange (LSE), meeting its targeted capital to begin writing business at 1 January.
Markets Review: Kinsale leads gains in record November rallyShares in excess and surplus lines specialist Kinsale Capital Group surged 28.1 percent in November to lead widespread gains amongst US P&C stocks as Wall Street posted its best monthly performance in three decades.