MUNICH REINSURANCE MURGFTOP PICKMar 05, 2024Stock price when the opinion was issued
As of Jul 21, 2026. Market Open.
Total return over last 10 years is north of 18% annualized. Annual dividend increases and share buybacks. Credit-rating upgrade. Interest rate cycle has been positive, as has the effect of the runup in equity markets this year.
Very conservative business, utilizing AI tools for both risk and claims management. Great company. Financials outside Canada are trading at significant discounts. (Price target in euros.) Yield is 4.75%.
Companies in this space will go to, say, SunLife and buy 10% of their flood exposure. Active globally, based in Germany, 140 years old. 3.5% yield that rises each year. Add some share buybacks regularly. Add rising interest rates. This will increase reinsurance rates. (Analysts' price target $248.22)
A serial dividend increaser. Their investments are doing well with interest rates up. Are excellent underwriters.