Insurance Stocks Extend Rout as Soft Earnings Spur Growth Fears

Shares of insurance related companies extended a selloff Thursday, after weak earnings reports from Marsh & McLennan Cos Inc., Progressive Corp. and Travelers Cos Inc. cast a pall over the sector and sparked growth concerns.

A gauge tracking the group — the S&P 500 Insurance Index — fell as much as 3.7% Thursday, bringing its two-day decline to 6% and on track for the largest decline since the tariff-fueled market-wide meltdown in early April. The wider S&P 500 was down 0.4%. The group was also the biggest decliner on the benchmark index by 12:45 p.m. in New York.