Hot Picks: Insurance
Insurance stocks have outperformed the broader financial sector over the past two years, and one financial expert says she expects the sector to remain strong throughout 2023.
Speaking with BNN Bloomberg's Amber Kanwar on Tuesday, Cathy Seifert, director of CFRA Research, said the insurance industry has pricing power and a number of catalysts such as strong demand will continue drive strength within the sector this year.
“They (insurance companies) have pricing power, demand still remains healthy, they have balance sheet strength,” she said.
She recommended Arch Capital Group Ltd. (ACGL), Arthur J. Gallagher & Co. (AJG) and Everest Re Group Ltd (RE) as her hot picks in the insurance space.
Seifert, her family members, her investment banking clients and her firm do not own any of the stocks mentioned above.
Check out the full video at the top of the article to learn more.