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Surerabout insurers
Published:October 9, 2009, 6:54 AM
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Updated: August 21, 2010, 2:24 AM
Insurance stocks have gotten a boost from positive comments made by a UBS analyst.
UBS has resumed coverage of the industry, releasing comments on 13 companies, including higher ratings for Aflac and Hartford.
Analyst Andrew Kligerman mostly kept UBS’s previous calls on the companies, including maintaining “buy” ratings for Ameriprise, Genworth, Lincoln National, MetLife, The Phoenix Companies and Reinsurance Group of America.
Kligerman also kept “neutral” ratings on Conseco, Manulife, National Financial Partners and Protective Life.
Investors responded strongly to Kligerman’s upgrade of Aflac, which he raised to “neutral” from “sell.” Kligerman said the net positives for the company, including strong operating earnings that provide a buffer to investment losses, warranted the higher rating.
Kligerman also upgraded Hartford, saying the company has the means to “absorb adverse equity markets, higher capital requirements and investment losses.”
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