Asia is up today, But I guess there will be significant insurance claims in Japan. How long before they start pulling out from the market to pay claims? I think the money will eventually come back to the market (Insurance claims --> rebuilding --> construction company earnings & worker pay —> consumption )
When they can reasonably asses the damage, rather than give large range values. It will be interesting to see which re-insurers had large exposures to Japan. Japan’s insurance market is made up of a big 3, which control 80% of insurance. With the australian floods and cyclone and new zealand earthquake already taking a toll on Q1 earnings, some re-insurers will be putting up some ugly earnings