Q: Please comment on why you think IFC has been weak lately. The sector overall has been poor with FFH & BRK'B falling as well. Are folks concerned that insurance premiums are at risk?
5i Research Answer:
Please see this answer from yesterday on IFC's weakness. We do not think premiums are at risk, but the sector does seem out of favour. Historically, higher interest rates have been good for the sector, so lower rates may have resulted in some negative sentiment.