巴克莱-美股-保险业-美国保险业罗奇保险营销讲义-163页-20170818-barclays-us insurance sector chartbook insurance marketing handout aug 2017 vf

《巴克莱-美股-保险业-美国保险业罗奇保险营销讲义-163页-20170818-barclays-us insurance sector chartbook insurance marketing handout aug 2017 vf》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。

1、EquityResearchJayGelb,CFAU.S.InsuranceManagingDirector,EquityResearch+12125261561jay.gelb@barclays.comProperty-Casualty:NeutralBCI,USSueLee+12125268190LifeInsurance:Positivesue.lee@barclays.comBCI,USAndrewKarpBerkshireHathaway:OW/Neu+12125269015andrew.karp@barclays.comBCI,USAugust18,2017K

2、araMarciscano+12125269031kara.marciscano@barclays.comBCI,USPricedasofAugust14,2017BarclaysCapitalInc.and/oroneofitsaffiliatesdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityo

3、fthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.PLEASESEEANALYSTCERTIFICATIONSANDIMPORTANTDISCLOSURESBEGINNINGONPAGE156.U.S.Insurance/Non-LifeRatingsDistribution:10OWs,6EWs,2UWNon-LifeIndustryView:NeutralBarclaysRatingsSummaryBarclaysRatings

4、vs.StreetRatings*BarclaysStreetRatingOverweightTickerRatingBuyHoldSell•ChubbLtd.•HartfordFinancialServicesCommercialLines&Reinsurance•AmericanInt’lGroup•Marsh&McLennanChubbCBOverweight1522•EverestReBerkshireHathawayBRK.AOverweight220•ArthurJ.GallagherEverestReREOverweight261•AllstateCorp•

5、WillisTowersWatsonXLCatlinXLOverweight870•BerkshireHathaway•XLCatlinArchCapitalGroupACGLEqualWeight581TravelersTRVEqualWeight4143RenaissanceReRNREqualWeight0101ValidusReVREqualWeight260AspenHoldingsAHLEqualWeight040EqualWeightInsuranceBrokersMarsh&McLennanMMCOverweight1270•ArchCapital•Ren

6、aissanceReHoldingsWillisTowersWatsonWLTWOverweight1443•AspenInsuranceHoldings•TheTravelersCompaniesArthurJ.GallagherAJGOverweight871•AonCorporation•ValidusHoldingsAonCorpAONEqualWeight7102Brown&BrownBROUnderweight292PersonalLinesAllstateCorp.ALLOverweight1171ProgressivePGRUnderweight972Un

7、derweightMultiline•ProgressiveCorp.•Brown&BrownAmericanInt'lGroupAIGOverweight1161HartfordFinancialHIGOverweight6110Non-LifeInsuranceIndustryView:Neutral*ThisisacollationofratingsputtogetherbyBloomberg,whichassigns"buy""sell"or"hold"todifferentfirms.Source:Bloomberg