Kai Pan

In a report published Tuesday, Morgan Stanley analyst Kai Pan reiterated an Overweight rating and $39.00 price target on XL Group PLC (NYSE: XL). In the report, Morgan Stanley noted, “We are incrementally more positive on XL's ability to deliver a double-digit ROE following a call with CFO Peter...

In a report published Thursday, Morgan Stanley analyst Kai Pan reiterated an Overweight rating on XL Group PLC (NYSE: XL), but removed the $39.00 price target. In the report, Morgan Stanley noted, “XL's global diversified insurance franchise allows the company to access markets with favorable...

In a note released Wednesday, Morgan Stanley analyst Kai Pan upgraded XL Group plc (NYSE: XL) from Equal-weight to Overweight and set a $39 price target. Shares of XL have risen ~2 percent in the pre-market following the upgrade. Pan suggests it should continue to rise as the company's shares were...

In a report published Tuesday, Morgan Stanley analyst Kai Pan reiterated an Equal-Weight rating on Arthur J. Gallagher & Co. (NYSE: AJG). In the report, Morgan Stanley noted, “AJG is acquiring 87.1% of Noraxis in Canada for $388m. Noraxis is a top-five Canadian insurance broker currently owned...

In a report published Thursday, Morgan Stanley analyst Kai Pan reiterated an Overweight rating on ACE Limited (NYSE: ACE), and raised the price target from $119.00 to $121.00. In the report, Morgan Stanley noted, “ACE's strong balance sheet (we estimate ~$8.5b excess capital or 29% of equity) and...

In a report published Thursday, Morgan Stanley analyst Kai Pan reiterated an Equal-Weight rating on Axis Capital (NYSE: AXS). In the report, Morgan Stanley noted, “Axis is a global specialty underwriter with a management who is diversifying business mix towards lower volatility and potentially...

In a report published Thursday, Morgan Stanley analyst Kai Pan reiterated an Overweight rating on RenaissanceRe Holdings Ltd. (NYSE: RNR), and raised the price target from $108.00 to $112.00. In the report, Morgan Stanley noted, “RNR is a leading property cat underwriter that has delivered a 20%+...

In a report published Thursday, Morgan Stanley analyst Kai Pan reiterated an Underweight rating on The Progressive Corporation (NYSE: PGR). In the report, Morgan Stanley noted, “PGR is a pure play in personal auto with a large footprint in the fast growing direct segment. At 16x 2014e EPS and 2.2x...

In a report published Tuesday, Morgan Stanley analyst Kai Pan reiterated an Equal-Weight rating on Arthur J. Gallagher & Co. (NYSE: AJG). In the report, Morgan Stanley noted, “We estimate 2014‐15e EPS CAGR of ~15% driven by: (1) ~20% revenue growth via M&A and organic growth in an...

In a report published Wednesday, Morgan Stanley analyst Kai Pan reiterated an Overweight rating on Marsh & McLennan Companies (NYSE: MMC), and raised the price target from $51.00 to $54.00. In the report, Morgan Stanley noted, “MMC is committed to 13% long-term growth. At its 2014 Investor Day...

In a report published Thursday, Morgan Stanley analyst Kai Pan reiterated an Equal-Weight rating on Third Point Reinsurance (NYSE: TPRE), but removed the $18.00 price target. In the report, Morgan Stanley noted, “February investment return was much stronger than we expected, after a decline of -1....

In a report published Friday, Morgan Stanley analyst Kai Pan maintained Equal-weight on Brown & Brown (NYSE: BRO), following the company's move to acquire Wright Insurance Group for $602.5M. According to the report, BRO's move to acquire Wright Insurance Group for expects 9-10c EPS accretion...