Major US insurers slide as China retaliates with tariffs

ReutersApr 4, 2025 1:03 PM

Shares of U.S. insurers slump after China's finance ministry said on Friday it will respond to President Donald Trump's tariffs with additional tariffs of 34% on all U.S. goods from April 10

MetLife MET.N falls 4%, Prudential Financial PRU.N falls 3.6%, Travelers TRV.N falls 1.6%, and American International Group AIG.N falls 1.4%

"Within the P&C industry, we think the just-announced tariffs will mostly impact personal insurance claim costs, including more expensive car parts, used cars, and construction materials," said KBW analysts in a note

Brokerage said insurers have time to file for rate increases, which state regulators are likely to approve

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