BUZZ-US insurers catch up with market benchmark after lagging in 2023

Indexes tracking the U.S. insurance industry are set to outperform the S&P 500 .SPX index this year after trailing it in 2023

The S&P 500 Insurance index .SPXIN has risen 24.6% YTD as of last close, compared with the benchmark index's 23.8% gain

Property and casualty insurers fared better, with the S&P 500 Property & Casualty Insurance sub index .SPLRCINPC up 33.5%

The industry benefited from a recovery in spending on insurance policies as economic strength boosted consumer confidence

High interest rates also helped returns from insurers' bond investments, while a searing equities rally lifted their stock portfolios

Industry bellwether Travelers Companies TRV.N stock up 26% so far this year

(Reporting by Niket Nishant in Bengaluru)

((Niket.Nishant@thomsonreuters.com))