European Reinsurers Drop for Second Day on Japan Quake Bill
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European reinsurers fell for a second day on concern the global insurance industry may face claims of as much as 2.8 trillion yen ($34 billion) tied to the earthquake in Japan.
Swiss Reinsurance Co., Scor SE and Munich Re led declines in the Stoxx Europe 600 Insurance Index, which dropped 2.1 percent. That followed a 2.2 percent slump for the group on March 11, when an 8.9-magnitude quake struck off the coast of Sendai, a city of 1 million north of Tokyo.