tradingkey.logo

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

ReutersDec 31, 2024 2:35 PM

** 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))

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI