QBE Insurance ((QBE)) has been the test of an investor's patience, but UBS has a Buy rating as the stock looks less pricey than the other domestic general insurers. QBE still needs to prove its case but the balance sheet is recovering. Citi believes QBE's plans to deliver a capital surplus are realistic and provide a degree of comfort that the worst of the reserving issues are over. Valuation looks attractive and cost savings should assist a better FY15 result. Citi maintains QBE as its only Buy rating in the sector. The broker believes the expected turnaround and leverage to rising interest rates will outweigh the negative impact of continued pressure on premium rates
Brokers Pick Over Insurers' Prospects
FNArena News - September 04 2014 -Need to pick least overvalued
-Worst likely over for QBE -Key to IAG is margin delivery -Key to Suncorp is capital returns
Zess its looking good
QBE Price at posting:
$11.77 Sentiment: Buy Disclosure: Held
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