Major US insurers slide as China retaliates with tariffs

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