Catastrophes Rock Q3 Underwriting: Insurance Stocks In Focus
Zacks Investment Research | Sep 20, 2017 06:56AM ET
There seems no end to the woes and mass devastations as parts of the United States continue to be rampaged by a host of Hurricanes. While Harvey rocked Houston and Texas Gulf Coast, Irma ran amok in the regions across Caribbean to Florida. Both storms are considered costliest in a decade. No sooner the country had heaved a sigh of relief as Hurricane Jose was not so destructive in effect than another Hurricane Maria hit Puerto Rico and the Virgin Islands. Maria is already deemed to a Category 5 storm.
Economic losses from Irma are estimated about $58-$83 billion while the same from Harvey could be as high as $108 billion by Moody’s Analytics. Loss counts are yet to come for the damages caused by Maria. The only good news is that Irma’s impact is projected as lower than anticipated.
We can safely say that the third quarter of .
Shares of Aspen Insurance have lost 12.7% in the last month, underperforming the industry.
New York-based Alleghany Corporation (NYSE:Y) provides property and casualty reinsurance and insurance in the United States and internationally. The stock carries a Zacks Rank #5. The Zacks Consensus Estimate for 2017 moved south 28% in the last 30 days. The stock has a VGM Score of D.
Shares of Alleghany have slipped 1.8% in the past month, thus underperforming the industry.
New-York based The Travelers Companies provides property and casualty insurance and surety products and services to businesses, organizations and individuals in the United States and select international markets. The stock carries a Zacks Rank #4. The Zacks Consensus Estimate for 2017 moved down 12.8% in the last 30 days. The stock has a VGM Score of D.
Shares of Travelers have declined 5.4% in the last month, thereby underperforming the industry.
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Ohio-based State Auto Financial Corporation (NASDAQ:STFC) engages in writing personal, business and specialty insurance products. The stock carries a Zacks Rank #4. The Zacks Consensus Estimate for 2017 tanked 104% in the last 30 days. The stock has a VGM Score of C.
Shares of State Auto Financial have lost 0.04% in the last month, thereby underperforming the industry.
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