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The Insider Weekly 30

Biggest movers

US insurance giant AIG's share price fell 5.19 percent last week after Deutsche Bank equity analyst Josh Shanker downgraded his recommendation on the stock to "hold" from "buy", as well as lowering his price target.

The analyst said that after making significant improvements in its core operations, the insurer's high costs "continue to impose a ceiling" on profits in its key P&C business.

Ailing US carrier Meadowbrook rose 5.3 percent after The Insurance Insider reported on 10 March that the company had received takeover approaches from rivals Navigators and AmTrust.

In Europe, French insurer Axa and Munich Re, the world's biggest reinsurer, both lost ground, falling 4.93 percent and 3.39 percent respectively during the week.

The picture was brighter in London, where shares in Lloyd's (re)insurer Hiscox rose 8.07 percent, bringing the carrier closer to erasing its year-to-date fall of 0.72 percent.

London-listed peer Amlin also rose, achieving a gain of 2.45 percent.


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