Over the past week, changes in the weighted average book value of the S&P 500 Insurance and Banks Indices have stabilized for companies in the broad financial services industry. According to Bloomberg data, the weighted average book value of the S&P 500 Banks Index remains down 34 percent year-over-year (as it was last week, reflecting the impairment of investment assets, particularly in September. The weighted book value of the S&P 500 Insurance Index has crept slightly lower, down close to 10 percent year-over-year compared to 9 percent last week.
November 3rd, 2008
Posted at 1:00 AM ET