U.S. Life Insurers’ Shares Fall on Investment Concerns

From Reuters:Stocks and shares

Shares of U.S. life insurers fell sharply on Wednesday as investors grew concerned that investment losses could erode profits and capital.

Shares of MetLife (MET.N: Quote, Profile, Research, Stock Buzz), the largest U.S. life insurer, fell almost 15 percent to $47.79, and No. 2 Prudential Financial (PRU.N: Quote, Profile, Research, Stock Buzz) fell more than 7 percent to $66.62.

Shares of large life and property insurer Hartford Financial Services Group Inc (HIG.N: Quote, Profile, Research, Stock Buzz) dropped more than 12 percent to $35.83, extending an 18 percent decline a day earlier. And Genworth Financial (GNW.N: Quote, Profile, Research, Stock Buzz) shares fell more than 17 percent to $7.13.

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