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RZB - Reinsurance Of America Inc News Story

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BUZZ-U.S. Life Insurers: Citi sees increased risk profiles, cuts PT

Fri 13th September, 2019 11:54am
** Citigroup remains wary of getting too constructive on
U.S. life sector, cuts PT on major players
    ** Life insurance sector has not previously been through a
period that included low rates, rising credit losses and sizable
tail risk concerns - Citi
    ** Brokerage says reducing PT to reflect the increased risk
profile and current macro environment in sector
    ** Citi also says life insurers' group businesses, which
have generally surprised to the upside in recent years, could be
adversely impacted in an economic slowdown
    ** Brokerage cuts PT on Prudential Financial Inc  PRU.N  to
$88 from $94, on Ameriprise Financial Inc  AMP.N  to $170 from
$178, among others
    ** However, brokerage adds if recession concerns do not
materialize, and/or rates gradually rise, U.S. life insurers
should outperform

 (Reporting by Abhishek Manikandan in Bengaluru)
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