Morgan Stanley raised its rating for St. Paul Cos. and XL Capital, identifying the two stocks as underpriced as the insurance market prospers with higher premium rates.
St. Paul was raised to “equal-weight” from “underweight.” XL Capital was raised to “overweight” from “equal-weight.” Chubb Corp. was downgraded to “under-weight” from “equal-weight,” because the stock has been deemed overvalued relative to its peers.
Was this article valuable?
Here are more articles you may enjoy.
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
Zurich CEO Says Staff Let Go as Regulator Finma Imposes Partial Sales Ban 
Berry Producer Driscoll’s Sued Over Alleged Greenwashing, Use of Forever Chemicals 
Mapfre to Acquire Safety Insurance for $1.54 Billion in Cash Deal 
