London-based Legal & General Group PLC recorded the sharpest increase in market capitalization, in percentage terms, among the 20 largest Europe-listed insurance underwriters in the fourth quarter of 2019, according to an S&P Global Market Intelligence analysis.
L&G's market cap increased 22% quarter over quarter, compared with a 7.8% decline in the third quarter. With a euro-equivalent market cap of €21.23 billion as of Dec. 31, 2019, L&G is now the ninth-largest insurance underwriter, leaving Hannover Re and Aviva PLC at No. 10 and No. 11, respectively.
Poland's Powszechny Zakład Ubezpieczeń SA jumped four spots from the third quarter on the back of a 7.1% rise in the period, while Prudential PLC, Swiss Life Holding AG and Poste Italiane SpA saw minimal declines in market cap but maintained their rankings.
The top eight remained unchanged, headed by Germany's Allianz Group.