Anne Kast’s Insurance Fund: Time to buy or sell?

Anne Kast, the Bermuda-based investment advisor who runs the Bermuda Insurance Index Fund, may have been ruing the timing of a recent full-page advertisement in The Royal Gazette newspaper.
In an effort to drum up business for the fund, which was launched last year at $10 and is now at $9.40, readers were treated to massively optimistic buy recommendations of Bermuda’s insurance stocks from analysts such as Morgan Stanley, Prudential, Merrill Lynch and Warburg Dillon.