EFT Report, New York: The New York Society of Security Analysts’ 18th annual Insurance Conference will be held in New York City from March 17–18, 2014.
During the event, insurance company executives whose firms cover such forms of insurance as commercial, personal, casualty, automobile and life, will discuss their companies’ economic position.
Robert P. Hartwig, PhD, CPCU, president and economist at the Insurance Information Institute, will open the conference with an outlook for the insurance industry.
Over the course of two day, senior-level executives will present to investors on how their company is faring. These include:
- American Equity Investment Life Holding
- American Financial Group
- Argo Group International Holdings Ltd.
- Atlas Financial
- Blue Capital Reinsurance Holdings Ltd.
- Crawford & Co.
- Donegal Group
- EMC Insurance Group Inc.
- FBL Financial Group
- Federated National Holding Co.
- Hallmark Financial Services
- Infinity Property & Casualty Corp.
- Kemper Corp.
- ProAssurance Corp.
- Selective Insurance Group
- United Fire Group Inc.
- United Insurance Holdings Corp.
The S&P Insurance ETF KIE increased 45% in 2013 compared with the S&P 500 Index, which increased 30%. Life insurance stocks were the best performing sub-sector, followed by insurance brokers, primary non-life insurers and then reinsurers. The non-life sector is expected to face some headwinds in 2014 from less robust industry pricing and depressed new money yields, according to NYSSA.
Life insurance investors enjoyed a renaissance in 2013 with the SNL Life and Health Index returning 64% (versus 30% for the S&P 500). Interest rates made a slow but steady turn higher and remain positioned to continue the slow but stable trend in the coming year. While valuation does not appear nearly as attractive as it did this time last year, according to NYSSA, solid growth is expected in 2014 and 2015 with the possibility of rising interest rates adding to the estimates.
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