"Not much summer lovin' for European Insurance" - UBS
04/07/2023 12:44
** UBS maintains its "balanced view" on European insurance
sector, which has seen a modest increase in investor crowding
since May but still remains below banks
** The broker says London Market and Benelux sub-sectors
remain the most crowded, while UK property & casualty and Swiss
mid-caps the most negatively crowded
** It also notes there has been a change in the top 3 most
crowded longs, with AXA AXAF.PA and NN NN.AS replacing
Hiscox HSX.L and Beazley BEZG.L , while ASR ASRNL.AS
maintains its top three spot
** In contrast, Zurich ZURN.S and Prudential PRU.L are
the least crowded names, the broker adds
** UBS points out that the biggest positive month-on-month
movements belong to Generali GASI.MI , AXA and Sampo SAMPO.HE
(Reporting by Matteo Allievi)
((Matteo.allievi@thomsonreuters.com))