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Banks, Insurance Companies Operate in Different Spheres
Beginning of article
Like the stocks of most financial services businesses, those of insurance companies move in the opposite direction of interest rates.
When rates go down, insurance companies' stocks tend to go up. But some say that's about where the similarity ends.
American Banker now follows insurance stocks in the weekly Market Monitor as part of its enhanced coverage of the banking industry's competitors in the financial services sector.
"Outside of the fact that banks and insurance companies are classified as financial services, they really operate in two different areas," said Charles Vincent, a banking and insurance industry analyst in Philadelphia for PNC Asset …
