Favorable investment holdings of U.S. P&C insurers to help book value/shr - UBS

RenaissanceRe Holdings

03/04/2023 14:51

** UBS estimates investment holdings of U.S. property and casualty (P&C) insurers will
positively impact book value per share (BVPS) - a metric to evaluate stock price, in Q1
    ** UBS expects positive impact on BVPS will be ~5% on average for U.S. P&C insurers under
brokerage's coverage universe
    ** American International Group  AIG.N , RenaissanceRe Holdings  RNR.N , Allstate Corp
 ALL.N , and Travelers Companies  TRV.N  are the most positively impacted by favorable
investment holdings, says UBS
    ** Adds AIG will benefit the most
    ** So far this year, as of last close, AIG, ALL and TRV down 20.3%, 18.2% and ~8.6%
respectively, while RNR up 8.7%     

 (Reporting by Siddarth S in Bengaluru)
 ((Siddarth.s@thomsonreuters.com))