Market Analysts Weigh In On Amlin PLC
Westhouse Securities cut shares of Lloyd’s of London insurer Amlin — which operates a major Bermuda subsidiary — to a neutral rating in a research note issued to investors on Monday [Mar. 11].
A number of other analysts have also recently weighed in on Amlin. Analysts at Credit Suisse raised their price target on shares of Amlin from $5.59 to $5.80 in a research note to investors on Wednesday, March 6. They now have an underperform rating on the stock.
Separately, analysts at Canaccord Genuity raised their price target on shares of Amlin from $6.54 to $6.92 in a research note to investors on Tuesday, March 5. They now have a buy rating on the stock. Finally, analysts at Morgan Stanley reiterated an overweight rating on shares of Amlin in a research note to investors on Monday, March 4. They now have a $6.43 price target on the stock.
Amlin plc is engaged in non-life insurance and reinsurance underwriting in the Lloyd’s market, Bermuda and Europe.
Its Amlin Bermuda subsidiary commenced trading in December 2005 and operates in the reinsurance market. In October 2010, Amlin Bermuda Limited was re-domiciled to Zurich to become Amlin AG and Amlin Bermuda now operates as a Bermuda based branch of Amlin AG.
Business written is predominantly catastrophe reinsurance, similar to that written by Amlin London.
