European insurers at new low as investors doubt market turn
Investors are sceptical about the prospect of an imminent market turn when one looks at the valuations of the sector.
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After a bruising autumn for financial stocks, the
European (re)insurers are now among the lowest valued sectors
trading at a forward price-to-earnings ratio of only 6.4. This puts
them in similar territory to banks and the hard-pressed automobile
industry.
In part this may be because of the poor performance over the sector. According to RBC analyst Chris...
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