Reinsurers Get Slammed In Europe As Full Cost Of Japan Sinks In

Japan earthquake

Photo: AP

While European markets are holding up this morning, major reinsurance and insurance firms are taking a big hit on concerns costs associated with the Japanese disaster may go as high as $34 billion.The big names this morning in the red:

  • Hannover RE down 4.52%
  • Swiss RE down 3.29%
  • Munich RE down 3.45%
  • Catlin Group down 3.74%

Munich RE denies that the insurance industry will take a big hit from what’s happened in Japan.

Don’t miss: Ongoing coverage of the crisis at Fukushima >

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