UBS analyst Brian Meredith maintains $WR Berkley (WRB.US)$ with a buy rating, and adjusts the target price from $62 to $66.
According to TipRanks data, the analyst has a success rate of 80.3% and a total average return of 14.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $WR Berkley (WRB.US)$'s main analysts recently are as follows:
The third quarter was marked by numerous global catastrophe events, which are anticipated to result in 'manageable' catastrophe losses for property and casualty insurers. As the industry prepares for the fourth quarter, provisional losses from Hurricane Milton have been factored into forecasts, although the uncertainty surrounding the impact of the storm persists following its recent landfall. Adjustments within the sector are reflective of the events that transpired over the quarter as well as alterations in P/E multiples.
The recent third-quarter results, especially for reinsurers, might be influenced by the recent Hurricane Milton, according to an analyst. A preference is noted for the Personal segment due to improving margins and an increase in policies-in-force. The expectation for the third quarter is that catastrophe losses will be lower than the five-year seasonal average but still surpass those of the same period in the previous year. This could potentially pose risks for primary insurers, as per the industry overview for the Property and Casualty Insurance/Insurtech sector.
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