Financial Services Industry
Industry: Email Alert RSS FeedEurope and reinsurance lead as A.M. Best Stock Indexes show a double-digit gain for 2006.(Briefing)
Best's Review, February, 2007 by Cornejo, Rick
Europe and Reinsurance stock indexes led the way as A.M. Best's Co.'s composite index of global insurance-related stocks finished out the year with double-digit gains.
The 185 insurance, reinsurance and broker stocks comprising the A.M. Best Global Insurance Composite Index rose 13.80% from the previous year, as the A.M. Best European Insurance index rose 29.52%, the U.S. index rose 7.62%, and the Asia Pacific index rose 7.52%.
European insurance stocks benefited from a weakening U.S. dollar versus the euro and British pound. Over 2006, the dollar has decreased in value against the pound by 15%, while the euro has risen 12% against the dollar since December 2005. Meanwhile, unemployment in Germany dipped to less than 4 million in November, the first...
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