Major US insurers slide after China retaliates with tariffs

Metlife

04/04/2025 15:12

Updates

   ** Shares of U.S. insurers fall after China's finance ministry said an additional 34% tariff will be imposed on all U.S. goods from April 10 in a response to U.S. President Donald Trump's sweeping tariffs

       ** MetLife MET.N down 6.7%, Prudential Financial PRU.N falls 5.4%, Travelers TRV.N declines 4.2% and American International Group AIG.N drops 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," KBW analysts say in a note

       ** Insurers have time to file for rate increases, which state regulators are likely to approve, brokerage says

(Reporting by Ateev Bhandari and Pritam Biswas in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))