1143 GMT - Reinsurance prices are falling back from peak levels, but profitability remains healthy, HSBC says in a research note in which it rejigs its stock preferences for European reinsurers. "Greater appetite for growth has comfortably absorbed the higher demand for reinsurance cover. The direction of travel for prices is clear--unless we get a capital-destroying event--but we think it would [be] premature to call this an end of the reinsurance trade," the analysts write. They think returns will gradually decrease but remain above the cost of equity. HSBC raises its stock ratings for Munich Re and Hannover Re to buy, cuts Swiss Re's to hold and keeps Scor's at hold. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 22, 2025 06:43 ET (11:43 GMT)
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