Insurer stocks dipped ahead of Hurricane Sandy landfall
Stocks for European insurers, including Allianz SE and Zurich Insurance Group, fell on Monday as the US prepared for Hurricane Sandy, which is expected to cause $5bn-$10bn in insured losses, according to modelling firm Eqecat.
Insurance was the worst performing industry in the STOXX 600 Index, which was down 1.5% compared with the a 0.4% decline at 2:14pm in London.
Allianz traded 1.1% lower at €92.91, Zurich fell 2.6% and
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