Study: P/C insurance stocks have likely hit a ceiling on valuations

10/7/2013 | Insurance Networking News

Property/casualty insurance stocks have moved above sub-book value multiples, but overcapitalization is likely to place a ceiling on valuations, according to a study by Conning. "Underwriting fundamentals have improved, supporting higher valuations; however, the build-up of capital and depressed interest rates act as dampers on further improvement," said Conning's Steve Webersen.

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