Doug Kass Buying Insurance Companies This Morning (LFC, ACE, XL)
Hedge fund manager, Doug Kass, just tweeted that he is adding to his insurance long positions in China Life Insurance Company (NYSE: LFC), XL Capital (NYSE: XL), and ACE Limited (NYSE: ACE).
On the day, China Life Insurance (LFC), is 0.36% higher to $63.83. China Life Insurance Company Limited is a China-based life insurance company. The Company provides a range of insurance products, including individual life insurance, group life insurance, accident insurance and health insurance products.
XL Capital (XL) has shed 0.71% and is currently trading at $16.90. XL Capital Ltd (XL) is a provider of insurance and reinsurance coverage to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis.
ACE Limited (ACE) has lost 0.14% in early trading and the shares are currently trading hands for $48.60. ACE Limited (ACE) is a holding company of the ACE Group of Companies. Its direct and indirect subsidiaries (collectively, the ACE Group of Companies) are a global property and casualty insurance, and reinsurance organization.
Doug Kass turned bullish near the end of last week. He feels that the market is in the process of bottoming out and it is time to start buying. If you would like to find out more about Kass, please visit Benzinga's Exclusive Interview With Doug Kass.
