Citi‘s Most Read – Financials & FinTech

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Citi‘s Most Read – Financials & FinTech

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Citi's Most Read - Financials & FinTech

June 15 - June 21 22 Jun 2026 11:44:52 ET

ACMost Read Citi Global Research

As boundaries increasingly blur between conventional sectors, and as bottom-up +44-20-7500-1400

and top-down analysis converges, Citi Research offers a Super-Sector lens to help

you better understand and take advantage of widespread disruptive trends and

innovation, extending our peer analysis for greater breadth and depth. The

Financials & FinTech Super-Sector consists of the Banks, Insurance, Consumer

Finance, and Diversified Financials sectors. Please find below a collection of our

most impactful recent research in the Financials & FinTech Global Super-Sector –

we hope you find it thought-provoking.

Most Read

European Insurance - Reinsurers - Catching a falling knife

Ahead of US windstorm season we update exposures and estimate Nat Cat

earnings at risk from a softening cycle. With shares weak since the end of April, it is

clear that investors are wary of price pressure and are cautiously positioned into

hurricane season. We agree but a strong underweight is less obvious now given

recent performance. Rapid rate reductions will accelerate how quickly we test

technical margin floors and any sign of industry discipline could be taken positively

if it were to emerge. But for now the sector is likely to struggle as it enters a volatile

period. Our only Buy remains Scor (European Focus List) which is more stock-

specific.

James A Shuck

Estimated Nat Cat earnings as % of division/ Estimated earnings impact from -20% Nat Cat

group earnings rate reduction

80%

73%

66%

50% 53% Impact from resiliency build

40% 2%

24% 22% 18% 14% 19% 12%

18%

17%

Swiss Re Munich Re Hannover Re Scor 12% 12%