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Fly News Breaks for March 31, 2016
AFL, LNC, AIG, PRU, MET
Mar 31, 2016 | 06:55 EDT
Deutsche Bank analyst Yaron Kinar views yesterday's court ruling as a "clearly" positive development for MetLife (MET), but points out the company's status won't be finalized for some time with the government likely to appeal. The read-through to Prudential (PRU) is also "clearly" a positive, since the company is also designated a Systemically Important Financial Institution and has a similar balance sheet compared to MetLife. Prudential, however, no longer has the option to challenge its designation in court, so it may have to wait for the Financial Stability Oversight Council's annual review of SIFIs, which occurs in Q1, Kinar tells investors in a research note. The analyst views yesterday's rally in the Life Insurance space, aside from MetLife and Prudential, as "less merited." Such names that rallied yesterday along with MetLife and Prudential are AIG (AIG), Lincoln National (LNC) and Aflac (AFL).
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