Sector Snap: Insurance stocks mostly down

Shares of major insurance companies traded mostly down Friday, as investors appeared to be waiting for Tropical Storm Gustav.

Gustav ripped off roofs, downed power lines and pounded rain into Jamaica on Friday, triggering landslides and flooding.

Forecasters at the U.S. National Hurricane Center in Miami say the storm could wind up almost anywhere in the Gulf of Mexico. But they say the currently projected track would carry it to Louisiana by Tuesday.

Meanwhile, major U.S. insurance companies continued to prepare for the Gustav, ready to send adjusters and appraisers to assess damage from the storm if it does make landfall in the U.S.

Shares of property, casualty and auto insurer Allstate Corp. lost 36 cents to $45.23 in afternoon trading.

The Travelers Cos. was off 24 cents to $44.31, while MetLife Inc. slipped 39 cents to $54.01.

American International Group Inc. lost 31 cents to $21.20.

Some insurance companies bucked the trend:

ACE Ltd., up 38 cents to $52.65.

Cincinnati Financial Corp., added 12 cents to $29.63.