BUZZ-Australia's QBE rises as Morgan Stanley hikes PT on upbeat industry trends

Reuters
03-28
BUZZ-Australia's QBE rises as <a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> hikes PT on upbeat industry trends

** Shares of insurer QBE Insurance QBE.AX rise 1.2% to A$22.34

** QBE is expected to see an enhanced topline growth in 2025 due to positive global industry trends, as per Morgan Stanley

** Brokerage maintains "overweight" rating, hikes PT to A$25.05 from A$23.80

** Says global insurance industry is experiencing growth mode, with pricing near peaks and exposures continuing to grow, setting up mid- to high-single-digit premium growth across Property & Casualty and Specialty sectors

** Adds that the U.S. market presents significant growth opportunities for QBE, with premiums growing about 16% YoY in February for California, Florida and Texas

** Cyber insurance is perceived as a $24 billion opportunity, with Morgan Stanley's analysts estimating cyber insurance Gross Written Premiums growing at ~15% CAGR to $24 billion in 2027E

** QBE set for weekly gains of 2.3%

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))

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