MKL - Here's Why Markel Aflac and Safety Insurance Group Soared on Friday
In the recent stock market downturn, and the financial sector has been one of the worst performers of all. And insurance stocks were no exception. AnConversely, when the market rebounded on Friday, insurance stocks were some of the best performers. Markel (NYSE: MKL), Aflac (NYSE: AFL), and Safety Insurance Group (NASDAQ: SAFT) ended the day higher up 10%, 10%, and 12%, respectively.
Insurance stocks had been hammered all week in the market downturn. For one, the coronavirus pandemic itself could result in an uptick in insurance claims, especially if it gets significantly worse from here.
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