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Preserve Your Budget by Freezing Foods -- Savings ExperimentBanks shares have been buffeted by ill winds in recent months, including the housing and subprime finance meltdowns, and the sector has been among the stock market's worst performing groups.
Insurance shares, meanwhile, have lost some ground relative to the broad market but have outperformed banks and other financial shares by a wide margin.
Arguably, that suggests investors see little real impact on insurers from the problems affecting their counterparts in banking and elsewhere. However, in a financial environment where margins are low and risk is being repriced, in some cases dramatically, I wonder if the bulls on insurance stocks might be missing something?
Whether they offer coverage against calamities such as floods or fire, or protect policyholders from financial loss due to illness or death, insurance companies are in the business of acquiring risk -- albeit for a price.
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