STOCKS NEWS EUROPE-Swiss Life gains as investors hunt bargains

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13:11GMT 04Nov2008-Swiss Life gains as investors hunt bargains

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Insurer Swiss Life (SLHN.VX) gains 15.1 percent, outpacing a 4.9 percent rise in the European insurance sector index .SXIP as investors go bargain hunting.

"The share has really lost a lot like the whole sector and is now being traded at prices that simply have to appeal to buyers," one trader says.

Swiss Life shares had fallen about 60 percent since the start of the year before Tuesday's session, pressured by the financial crisis.

"People are looking around for something to buy because the market doesn't want to give way any more -- at least not for the moment," a second trader adds.

Reuters Messaging rm://jason.rhodes.reuters.com@reuters.net