European insurers face market concerns over low interest rates, though investors are confident about earnings growth and capital positions, says Bank of America Merrill Lynch. BAML, which prefers non-life insurers over life providers, says feedback from its financial CEO conference suggests company messages on business model resilience are resonating. It says it remains a buyer of AXA and Zurich, while Allianz gave the most comprehensive and upbeat presentation of the conference so far. "Legal & General gave a very good account of its growth credentials and its ability to manufacture appropriate long-term assets to back new liabilities," BAML analysts say. "If Brexit clouds lift, investor interest should reignite." (philip.waller@wsj.com)

(END) Dow Jones Newswires

September 26, 2019 07:54 ET (11:54 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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