GLOBAL - Commerzbank believes pension funds should increase their exposure to the insurance sector which, it says, is on the verge of a recovery.
The investment bank said insurers are under increasing pressure, for the moment, due to falling markets and fears about earnings. This, it argues, is creating buying opportunities for funds.
Commerzbank favours German and Italian insurers as it believes pension sales there will rocket due to the demographics and pension reforms there.
The Howden Group Pension Plan has completed a full pensioner buy-in with Legal & General (L&G), insuring benefits for around 2,000 members.
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