Swiss Re shares drop amid Japan quake
Shares in Swiss Re, one of the world's biggest reinsurers, fell 4.6 percent in early trading on Friday after Japan was struck by its biggest earthquake on record and a giant tsunami.
"It is too soon to have financial consequences (estimates)," Swiss Re spokesman Tom Armitage told AFP.
Total Swiss Re gross written premiums and fees in Japan amount to $688 million, including $469 million in non-life insurance, according to data provided by the reinsurer.
The reinsurer's shares plunged by over 8.5 percent at market open, before recovering to $51.15, a drop of 4.6 percent at mid-morning. It remained however the worst performer on the Swiss Market Index, which was down 0.52 percent.
© 2011 AFP