Hannover Re, Munich Re fall 4% as J.P. Morgan sees weaker reinsurance pricing
In short
The reinsurance sector faced downward market pressure after J.P. Morgan released a downbeat evaluation on industry conditions. The bank projected that pricing trends across the reinsurance market are set to weaken going forward. Consequently, shares of prominent European firms Hannover Re and Munich Re both experienced a four percent decrease.
Key points
- Sector pricing forecasts from J.P. Morgan indicate weakening conditions across the reinsu…: Sector pricing forecasts from J.P. Morgan indicate weakening conditions across the reinsurance industry.
- The negative investment bank assessment directly triggered market declines for Hannover R…: The negative investment bank assessment directly triggered market declines for Hannover Re and Munich Re.
- Both Hannover Re and Munich Re shares retreated by four percent following the report.: Both Hannover Re and Munich Re shares retreated by four percent following the report.