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#SaxoStrats - Market too negative on European insurers
Peter Garnry
16 February 2016 at 9:41 GMT
Video / 16 February 2016 at 9:41 GMT

#SaxoStrats - Market too negative on European insurers

Peter Garnry
Shares of the iShares STOXX Europe 600 Insurance ETF are down 22% since early December, driven by recent market turmoil hitting investment income for insurers, and Saxo Bank's Head of Equity Strategy Peter Garnry thinks this is far too negative a view.

"This is not a long-term strategic position as the industry will come under increasing pressure from negative rates, regulation on regulatory capital and increasing competition on premium.", according to Peter.  

Entry: buying EXH5:xetr at market.
Stop: trailing stop price EUR 22.36, steps of EUR 0.12

Target: EUR 27.00






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