U.S. insurers gain as Treasury yield curve steepens

Fednat Holding Co

24/03/2022 15:57

** Shares of major U.S. insurers gain as U.S. Treasury yield
curve steepened on Thursday
    ** MetLife Inc  MET.N , American International Group Inc
 AIG.N  and Prudential Financial Inc  PRU.N  up between 0.8% and
2.1% 
    ** Small- and mid-cap insurers also gain, with life insurer
Fednat Holding Co  FNHC.O  being the biggest winner with a 3%
surge
    ** The spread between yields on 2- and 10-year Treasury
notes  US2US10=RR  widens to 20.78 bps from 18.98 bps on
Wednesday
    ** Insurers typically see a boost to profitability with a
steepening of the yield curve
    ** The S&P 500 financials index  .SPSY  is up 0.7% 

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))