Regulatory 'interference' seen as key risk as Jefferies issues downgrades
The decline in investment yields and erosion of future earnings potential has led to the unravelling of the re-rating of the insurance sector, according to the global investment banking firm Jefferies.
In a report by the firm, which outlined the downgrade of Munich Re and of Allianz to ‘underperform' from ‘hold', it was suggested that the counter intuitive trade of falling yields and an
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