European Insurers Merit Quiet Investor Confidence: BAML -- Market Talk
September 26 2019 - 8:09AM
Dow Jones News
European insurers face market concerns over low interest rates,
though investors are confident about earnings growth and capital
positions, says Bank of America Merrill Lynch. BAML, which prefers
non-life insurers over life providers, says feedback from its
financial CEO conference suggests company messages on business
model resilience are resonating. It says it remains a buyer of AXA
and Zurich, while Allianz gave the most comprehensive and upbeat
presentation of the conference so far. "Legal & General gave a
very good account of its growth credentials and its ability to
manufacture appropriate long-term assets to back new liabilities,"
BAML analysts say. "If Brexit clouds lift, investor interest should
reignite." (philip.waller@wsj.com)
(END) Dow Jones Newswires
September 26, 2019 07:54 ET (11:54 GMT)
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