Reinsurance firm earnings should moderate from last year's solid numbers, but the outlook for their stocks is still generally positive, according to two investment bank reports released today.
At Bear Stearns analyst David Small wrote that relatively cheap reinsurance stocks still remain attractive despite the fear that they will trade lower as the hurricane season approaches.
Bank of America Securities analyst Kevin O'Donoghue said reinsurance results should be weaker than most of 2006, "when reinsurers reported significant upside surprises due to lower than expected catastrophe losses and favorable prior-year development."
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