US-listed reinsurance stocks slide following RVS despite positive sentiment

Shares in US-listed reinsurers have traded down following the Monte Carlo Rendez-Vous, with Fidelis and Hamilton leading the losses since last Friday.

The firms, both of which went public in 2023, posted the largest falls in the sector, with Fidelis down 4.9 percent since last Friday’s close and Hamilton shedding 3.9 percent over the same period.

Notably, neither company faced any negative news during the week that could explain the drop in share prices.

Other US-listed reinsurers experienced more moderate losses, with SiriusPoint down 1.7 percent and RenaissanceRe declining 1.6 percent through Thursday.

Shares in Everest Group slid 1.1 percent in the week, with the Bermudian one of two reinsurers, alongside Lancashire, to have seen only single-digit growth in its share price in the year to date.

Arch and Axis recorded minor declines, yet contributed to the overall trend of US-listed reinsurers ending in the red despite a generally optimistic tone from the Rendez-Vous de Septembre.

The only US-listed reinsurer to buck the trend was Cayman Islands-based Greenlight Capital Re, with shares in the firm rising by 2.5 percent over the period.

In contrast, Europe-listed reinsurers performed better, with all players closing the week in positive territory.

The most significant movement came from Scor, which climbed 4.2 percent following rumours that French mutual Covéa might reignite interest in acquiring the company, with the aim of combining the reinsurer with PartnerRe.

Shares in London-listed Lancashire increased 1.5 percent, while Munich Re added 1.3 percent over the week.

The gains underscore the outperformance of European reinsurers, which have maintained the upper hand this week over their counterparts across the Atlantic.

As investors continue to unpack the insights from the conference the overall mood remains upbeat.

Despite expectations of the first downward pressure on property catastrophe pricing in years for 2025, reinsurers are holding firm on key policy terms, with market analysts continuing to express confidence in the sector's stability and future profitability.