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Numis reiterated its “sell” rating, however upgraded its earning per share estimates by 14 per cent in 2014. The broker said the firm had “done very well buying assets at the bottom of the cycle at prices that have allowed them to make very attractive returns”.
Shore Capital downgraded its “buy” rating to “hold”. The broker said it remained a strong supporter of the firm’s management team, and added that it had taken the stock off the “buy” list “only due to the company’s share price having met all our expectations for the medium term”.
Westhouse reiterated its “add” rating. The broker noted that Amlin could make Leadenhall Capital Partners, its joint venture project, a “key differential” in achieving a place in the top 10-15 global reinsurer spots, by enhancing its ability to retain and grow its reinsurance book.