Major US insurers slide as China retaliates with tariffs

Metlife

04/04/2025 14:03

** 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

(Reporting by Ateev Bhandari in Bengaluru)

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