More Bermuda reinsurance carrier stock buybacks can be expected this year, according to an investment bank analysis released today.
Bank of America Securities property-casualty analyst Kevin O'Donoghue said that Bermuda insurers have a strong record of buying back shares when the market is not favorable for writing new business.
“This gives us increased confidence that we will see more share repurchases in 2007 and 2008 if there are no large losses this year that reduce industry capital and create opportunities for writing new business next year,” Mr. O'Donoghue wrote.
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