Euro insurers plunge on Japan quake

Euro insurers plunge on Japan quake: Shares in insurers were the biggest sectoral losers in Europe, with the STOXX Europe 600 Insurance index .SXIP down 2 percent after a massive 8.9 magnitude quake in Japan raises fears of damage claims.

"Definitely bad news for the sector and shares are being beaten," a trader says. Shares in big European reinsurers Munich Re (MUVGn.DE), Swiss Re (RUKN.VX), Hannover Re (HNRGn.DE) and Scor (SCOR.PA) fall by between 4 and 5 percent.

Insurers Allianz (ALVG.DE) and Axa (AXAF.PA) are down 1.7 and 1.3 percent. "It is too early to tell what the impact will be," a Swiss Re spokesman says. For more double click on [ID:nL3E7EB0V5] For the latest updates PRESS CTR + D or visit Stock Market news Today

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