Fly News Breaks for January 2, 2020
VOYA, PRU, GL, FG, ATH, AIG, AFL, UNM, RGA, PFG, MET, LNC, EQH, BHF, AEL
Jan 2, 2020 | 09:31 EDT
JPMorgan analyst Jimmy Bhullar said he expects life insurers to report healthy earnings in the near-term due to the impact of the strong equity market, but he expects results to weaken through 2020, leaving him cautious on the sector in the new year. He believes consensus EPS forecasts for most companies in the group are too high and he projects life insurers to incur additional balance sheet charges in 2020, barring a steady rise in rates. Bhullar called Metlife (MET) his top pick in the space and noted that he is negative on Brighthouse Financial (BHF). Additional names in the space he covers include American Equity (AEL), AXA Equitable (EQH), Lincoln National (LNC), Principal Financial (PFG), Reinsurance Group (RGA), Unum Group (UNM), Aflac (AFL), AIG (AIG), Athene Holding (ATH), FGL Holdings (FG), Globe Life (GL), Prudential (PRU), and Voya Financial (VOYA).
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