Strengthening East Coast Storm Buffets U.S. Insurance Shares
- Travelers declines as much as 2.4% before paring losses
- Memories of 2012's Sandy gives investors reason to take cover
This article is for subscribers only.
The hurricane strengthening off the U.S. East Coast is buffeting insurance providers as investors assess the possible damages.
Losses began to accelerate as Joaquin grew into a Category 4 hurricane, with top winds increasing to 130 miles (210 kilometers) per hour from 120 earlier. Declines in the industry faded during the afternoon amid speculation the risks may not be so great for all companies.