European insurance stocks fall as concerns over artificial intelligence trigger sell-off among US peers.

On Tuesday, the insurance sector performed worst among the European stock market benchmark indices, as U.S. peers were sold off due to market concerns about the disruptive impact of artificial intelligence, leading to a deterioration in sentiment for the sector. The STOXX 600 insurance sub-index fell by as much as 1.9%, with Allianz, Zurich Insurance Group, and AIA Group leading the declines. Despite increasing concerns in the market about the artificial intelligence tools introduced by the private online platform Insurify, the declines on Tuesday were milder compared to the previous day in the New York stock market. The S&P 500 insurance index closed down by 3.9%, marking the largest single-day decline since October.