Morgan Stanley sees growth in excess & surplus insurance markets

Investing.com12-06

Investing.com -- Morgan Stanley starts coverage on Kinsale Capital Group Inc (NYSE:KNSL), Ryan Specialty Group Holdings Inc (NYSE:RYAN), and Brown&Brown Inc (NYSE:BRO) with "overweight" rating, while ...

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Rising loss costs, social inflation from increasing litigation expenses, and persistent risks from natural disasters like hurricanes and wildfires have made it difficult for admitted insurers to maintain profitability in these regions.\"Insurers have been moving toward the E&S market, which gives them more flexibility around pricing and terms&conditions. States where insurers are reducing admitted ma","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","BK4534":"瑞士信贷持仓","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","BK4585":"ETF&股票定投概念","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","RYAN":"Ryan Specialty Group Holdings, Inc.","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","BK4588":"碎股","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","KNSL":"Kinsale Capital Group Inc.","LU0106831901.USD":"贝莱德世界金融基金A2","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","BK4581":"高盛持仓","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","BK4504":"桥水持仓","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","MS":"摩根士丹利","LU1548497426.USD":"安联环球人工智能AT Acc","BRO":"布朗保险经纪","LU0971096721.USD":"富达环球金融服务 A","BK4127":"投资银行业与经纪业","BK4173":"保险经纪商","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4539":"次新股","BK4107":"财产与意外伤害保险","BK4597":"股息贵族","BK4516":"特朗普概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD"},"translate_title":"摩根士丹利看到超额和盈余保险市场的增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MS":1,"BRO":1,"KNSL":1,"RYAN":0.9},"content_text":"Investing.com -- Morgan Stanley starts coverage on Kinsale Capital Group Inc (NYSE:KNSL), Ryan Specialty Group Holdings Inc (NYSE:RYAN), and Brown&Brown Inc (NYSE:BRO) with \"overweight\" rating, while noting their strong underwriting discipline and pricing power.\nBrokerage says excess and surplus (E&S) insurance market will benefit from pricing trends, with a supportive macroeconomic environment expected to persist through 2025 and beyond.\nThe E&S market, which operates outside of traditional state-regulated insurance frameworks, has seen significant growth as insurers exit unprofitable markets such as California and Florida. Rising loss costs, social inflation from increasing litigation expenses, and persistent risks from natural disasters like hurricanes and wildfires have made it difficult for admitted insurers to maintain profitability in these regions.\n\"Insurers have been moving toward the E&S market, which gives them more flexibility around pricing and terms&conditions. States where insurers are reducing admitted market exposures tend to have large exposures to E&S market,\" Morgan Stanley (NYSE:MS) analysts wrote.\nThis shift is contributing to the E&S market becoming a larger share of the overall insurance industry, with a superior growth profile compared to traditional insurers.\nMajor insurers have increasingly chosen to retreat from high-risk areas, citing the inability to charge rates sufficient to offset soaring claims and repair costs driven by inflation. In contrast, E&S insurers are better positioned to adapt, leveraging their pricing autonomy to address the heightened risks.\nMorgan Stanley’s report underscores the structural growth potential in the E&S market as insurers recalibrate their strategies in response to evolving risk landscapes. Companies that can maintain a disciplined approach to underwriting and capitalize on favourable pricing trends are well-placed to benefit from this shift, the bank noted.\nRelated Articles\nExclusive-Slim Jim maker Conagra exploring sale of Chef Boyardee, sources say\nAnalysis-Vodafone-Three merger approval marks UK antitrust shift","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2489497393"}