Insurance Age

Industry 'offers investors little'

Recent research has shown that in 2002, a time of falling markets,investors in the insurance industry were only really able to profit byexploiting trading opportunities in major stocks.

A spokeswoman from Fox-Pitt, Kelton (FPK), the specialist investment bank,said that the lessons from the insurance sector in 2002 had beenstraightforward: "During a phase of volatile financial markets, it hasbeen possible to outperform them only by remaining 'structurallyunderweight' (ie under-exposed)." She a