Insurance stocks outlook after earthquake and tsunami in Japan

Insurance stocks outlook after earthquake and tsunami in Japan : Insurance stocks worldwide took a big hit today in anticipation of lower future payouts following the huge earthquake and tsunami which hit Japan overnight. In London, Prudential fell by 2.18%, RSA Insurance dropped 2.12%, Aviva fell 1.28% while Admiral slumped 1.60%.

In Frankfurt, insurers Munich Re fell by 5.2%, while Allianz fell by 2.5% and Swiss Re and Hannover Re were also down by more than 4%. "News of the earthquake and tsunami in Japan have sent insurers such as Royal & Sun Alliance and Aviva down a couple of percent as investors remain risk averse," says David Jones, chief market strategist at IG Index.


FTSE falls on Japan quake
Britain's top share index headed for its biggest weekly fall since July on Friday, testing support levels around 5,800, after a huge earthquake in Japan knocked already shaky sentiment. By 1222 GMT (7:22 a.m. EST), the FTSE 100 .FTSE was down 26.18 points or 0.5 percent at 5,819.11. The index was down over 2.5 percent on the week, setting a fresh intraday low for the year of 5,796.44. Read More...


Japan earthquake knocks insurers and unsettles nervous FTSE
Fourth-quarter construction output was revised up slightly, with a minimal impact to GDP. Already unnerved by a big sell-off in the US overnight in the wake of an unexpected increase in jobless claims and continuing concerns over eurozone debt problems, the FTSE 100 index had fallen a further 40 points to 5,805 by 10am and the Mid-250 index had lost 94 points to 11,428. Read More...


Insurance sector hit by Japan quake but FTSE claws back
News of the earthquake and tsunami in Japan have sent insurers such as Royal & Sun Alliance and Aviva down a couple of percent as investors remain risk averse," says David Jones, chief market strategist at IG Index. Read More...

Related Post :