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Aug 6 2019, 07:35 IST/BST
Post H1 results, we increase our 2019 earnings and solvency but leave 2020/2021 earnings unchanged as we assume a more normalised outturn. Underlying underwriting discipline remains strong and we do not model for further reserve releases. While competition and lower investment returns are a headwind, we retain an ‘Outperform’ rating with an unchanged price target of €12.
Aug 6 2019, 07:35 IST/BST