By Chris Munro
April 8 - (The Insurer) - North America-listed P&C (re)insurance stocks clawed back some of their recent heavy losses in early trading on Tuesday as optimism grows that trade deals will be struck between the U.S. and some of its trading partners following the recently imposed tariffs.
Heritage and RenaissanceRe were among the biggest risers on Tuesday morning, with the stocks up 6.4% and 6.2%, respectively, from Monday’s close as of 11:16 a.m. ET.
Palomar Holdings was trading around 5.2% higher, while Everest Group, The Hanover, Axis, Kinsale and Progressive were up in the 4% to 5% range.
RLI, AIG, Global Indemnity, Kemper, Greenlight Re, Assurant, Berkshire Hathaway, Selective, Fairfax Financial, Universal, Allstate, Mercury General, Cincinnati Financial, The Hartford, Markel, WR Berkley, Arch Capital and Skyward Specialty were all up between 3% and 4%.
Among listed brokers, WTW was up 3.4%, Ryan Specialty 3.3%, Brown & Brown 3.0%, Arthur J Gallagher 2.9%, Aon 2.2% and Marsh McLennan 1.7%.
The S&P 500 was up 2.3%, while the Dow Jones and Nasdaq climbed by 2.2% and 2.7%, respectively.
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