Invesco unveils US insurance ETF in Europe

Jul 20th, 2023 | By | Category: Equities

Invesco has launched a new ETF in Europe providing focused exposure to insurance companies listed in the US.

Invesco launches US insurance ETF

The ETF is the first in Europe to provide focused exposure to the US insurance industry.

The Invesco Dow Jones US Insurance UCITS ETF has been listed on London Stock Exchange in US dollars (Ticker: INSU LN) and pound sterling (INSX LN).

While there are several ETFs in Europe providing exposure to the European insurance industry, the fund is the first to target insurance companies on the other side of the Atlantic.

The ETF is linked to the Dow Jones US Select Insurance Index which consists of US-listed companies with market capitalizations greater than $250 million.

The methodology screens for companies classified to the ‘Full Line Insurance, Property & Casualty Insurance’ or ‘Life Insurance’ industries according to S&P Dow Jones’ Industry Classification System.

Constituents are weighted by float-adjusted market capitalization, and the index is rebalanced on a quarterly basis.

As of 17 July, the ETF held 56 constituents, all of which were classified to the financials sector. Notable positions included Chubb (11.4%), Progressive (10.3%), Arthur J Gallagher (6.7%), American International (6.2%), Travelers Companies (5.6%), Prudential (4.8%), MetLife (4.8%), Aflac (4.6%), and Arch Capital (4.5%).

The ETF comes with an expense ratio of 0.35%.

Tags: , , , , , ,

Leave a Comment