- (PLX AI) - The reinsurance sector is attractive and has meaningful upside, Bank of America said after Swiss Re reported expected losses from Hurricane Ida and European floods.
- • After de-rating over the past year, reinsurance is attractive, with Munich Re and SCOR preferred over Swiss Re, BofA said
- • BofA rates Munich Re and SCOR buy and Swiss Re neutral
- • At price target CHF 100, Swiss Re still has an implied upside of 25%
- • Today Swiss Re estimated Hurricane Ida claims at USD 750 million and also updated its loss estimate for the July floods in Europe at approximately USD 520 million
- • These are broadly in line with market expectations and should be taken relatively favorably, analysts at UBS said
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