JPMorgan reiterates Neutral Outlook for the Life Insurance Sector
- Firm reiterates Overweight rating on MET, PRU, and RGA
- Firm reiterates Neutral rating on AIG, AFL, AIZ, and SYA
- Firm reiterates Underweight rating on PFG, PNX, and VOYA
- In firm's opinion, select stocks offer compelling upside, but firm feels that the overall risk-reward in the life insurance sector is balanced
- In firm's view, capital flexibility for share buybacks and dividend hikes, along with rational price competition in most product lines, are key positives
- Firm expects life sales to grow at a low single digit pace
- Firm expects group insurance sales to grow at a slow pace, but retirement flows should be healthy