Insurance stocks ‘historically cheap’

by David Masters

Story link: Insurance stocks ‘historically cheap’

Philip Gibbs, fund manager at Jupiter Financial Opportunities, has said that shares in many insurance companies are currently available at a bargain price.

According to Gibbs, certain insurance stocks are historically cheap.

Gibbs said that despite the recession, there are still opportunities for investors to make money.

However, he also warned that there are only a few stocks that can be relied upon through the continuing credit squeeze.

Gibbs company, Jupiter, was one of only a handful of financial services businesses to make money last year.

Jupiter’s £700 million fund posted returns of 7.25% for 2008, compared to the FTSE Financials index return of -47.9%.