CDS spreads tighten on European insurers

Five-year senior credit default swap (CDS) spreads referencing London-based Prudential moved in from 275.56 basis points at yesterday's New York close to 264.65bp at 11:00pm BST, according to data from credit information specialist CMA Datavision. Spreads referencing UK firm Legal & General tightened to 424.27bp from 429.27bp.

CDSs on London-based Aviva moved in to 204.71bp from 209.03bp, while spreads on ING's Amsterdam-based insurance arm ING Verzekeringen narrowed to 139.96bp from 144.54bp. CD