Sector Snap: Insurers mostly rise with market

Some of the sector's biggest gainers included Genworth Financial Inc., which jumped $4.10, or 82 percent, to $9.10 in afternoon trading, and American International Group Inc., which advanced 82 cents, or 32.4 percent, to $3.31.

Elsewhere, MetLife Inc. rallied $4.48, or 10.2 percent, to $48.23, and Aflac Inc. rose $4.98, or 9.7 percent, to $56.23.

Only a handful saw their shares slide Hartford Financial Services Group Inc. shares fell $15.65, or 31.3 percent, to $34.36, and Allstate Corp., lost 50 cents to $42.60.

Since mid-September, the nation has been rocked by disruptions in the financial markets that led to the downfall of Lehman Brothers Holdings Inc., forced Merrill Lynch into the arms of Bank of America Corp. and pushed Washington Mutual, the nation's largest thrift, to failure.

The government was also forced to step in and rescue AIG, one of the world's largest insurers.

Over the past couple of weeks, Genworth Financial's stock has been hit hard by concerns about its mortgage exposure. The stock, which finished Monday's trading at $5, has ranged from $3.51 to $32.33 over the past year.

The mortgage insurer said Tuesday morning that it is considering various strategic alternatives for its U.S. mortgage-insurance business, including a possible spinoff.

U.S. mortgage insurers have been hit hard as homeowners have fallen behind on loan payments, and fewer mortgages are being issued as lending practices have tightened.