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Fly News Breaks for February 27, 2019
CB
Feb 27, 2019 | 10:47 EDT
As previously reported, Credit Suisse analyst Michael Zaremski downgraded Chubb to Underperform from Neutral as he thinks the assumed catastrophe load embedded within consensus EPS forecasts is materially too low/optimistic, and as he has less confidence that the company will be able to organically grow policy counts in its peer-leading US high-net-worth personal home/auto businesses due to heightened competition from new entrants, one of whom is led by a spate of former Chubb executives. The analyst also lowered his price target on the shares to $131 from $141.
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