MILAN, Feb 10 - European insurance stocks fell sharply on Tuesday as investors reacted to a selloff in U.S. insurance brokers, triggered by concerns that new artificial intelligence tools could accelerate disruption in the sector.
Shares in top U.S. brokers Willis Towers Watson, Aon and Arthur J. Gallagher slumped between 9% and 12% on Monday after online insurance platform Insurify released an AI‑powered comparison tool built on ChatGPT.
A trader said the U.S. market lagged the UK in adopting price‑comparison sites though added that investors still underestimated the risks AI could pose to European insurers. Europe’s STOXX 600 Insurance fell as much as 1.9% by 0837 GMT, the biggest sector decliner in the region, while the broader STOXX 600 slipped 0.1%.
Among the steepest fallers were Hiscox, Mapfre, Admiral, Aviva and AXA, all down between 2% and 3%. The S&P 500 Insurance Index fell 3.9% on Monday, the biggest drop since October 2025.
Reporting by Danilo Masoni, editing by Alun John
Source: Reuters