Sector movers: Insurers move both ways

3rd Mar 2010 14:36

Insurance companies are in something of a state of flux.Life insurers are higher, largely due to a recovery in the share price of Prudential, which fell on Monday and yesterday after it confirmed it has agreed a deal to buy troubled US life group AIG's Asian business for $35.5bn. The acquisition will be funded by a $20bn rights issue, the largest ever seen in the UK. The terms of the issue will be announced with the prospectus in April.The Pru is joined higher by Legal & General.RSA Insurance is dragging the non-life insurance sector lower after the company said yesterday that it expects to make around £30m in payouts as a result of the Chilean earthquake.Top performing sectors so far todayForestry & Paper 4,523.97 +3.47%Life Insurance 3,569.08 +2.74%Mining 22,419.49 +1.61%Chemicals 4,947.69 +1.43%Mobile Telecommunications 3,421.38 +1.36%Bottom performing sectors so far todayInsurance (non-life) 1,364.97 -1.74%Industrial Transportation 1,975.39 -1.64%Construction & Materials 3,525.87 -1.16%Beverages 8,175.65 -0.87%Automobiles & Parts 2,707.48 -0.77%