Hartford Financial Services Group Inc (HIG) $15.24 +47.67%
Implied volatility is easing in the insurance sector after Hartford (HIG, news, chart, volatility) said its property and casualty insurance units are well capitalized and it will end 2008 with a $2 billion capital margin. Shares, which fell 57.6 percent last week after the company said investment losses resulted in a hefty $2.63 billion loss in the third quarter. The news stoked liquidity fears that sent the entire sector reeling. Today, however, HIG is up $4.84, or 47 percent, to $15.16 and implied volatility is down towards 200, well below the record highs near 290 seen late last week. Prudential (PRU) and Assurant (AIZ) implied volatility is also easing off recent last week’s extremely high levels.
Category: All Stocks, Insurance, Mid Cap Stocks
Free Newsletter
If you enjoyed this article, sign up to receive more just like it.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
