For Immediate Release
Chicago, IL – May 4, 2010 – Zacks.com announces the latest Industry Outlook. Today, Zacks Equity Research discusses the Insurance Industry, including Genworth Financial Inc. (GNW), American Physicians Capital, Inc. (ACAP), Hallmark Financial Services Inc. (HALL), Infinity Property and Casualty Corp. (IPCC) and Nymagic Inc. (NYM).
A synopsis of today’s Industry Outlook is presented below. The full article can be read at http://www.zacks.com/stock/news/33708/Insurance+Industry+Stock+Update+-+May+2010.
The turmoil in the financial markets created a highly challenging environment for the U.S. insurance industry, forcing many companies to take immense write-downs. In 2010, the overall situation has improved to a great extent and the worst of the crisis appears to be now behind us.
However, the soft market conditions along with legislative changes remain a chief cause for concern for the overall industry at this point. Though there are signs of economic recovery, the trend of sluggish pace is expected to continue at least through the remainder of 2010. Also, structural economies of scale have pushed the industry toward consolidation.
We remain positive on life and mortgage insurer Genworth Financial Inc. (GNW) with a Zacks #2 Rank (Buy) as its capital bolstering initiatives, introduction of high-margin products, distribution expansion, improved pricing and strict underwriting standards augur well going forward.
Other insurers that we like with a Zacks #2 Rank include American Physicians Capital, Inc. (ACAP), Hallmark Financial Services Inc. (HALL), Infinity Property and Casualty Corp. (IPCC) and Nymagic Inc. (NYM).
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