NEW YORK (TheStreet) -- Several insurer and reinsurance companies have seen their stock declines, while others have seen share increases since Friday depending in their exposure the earthquake in Japan. Although the full impact of these loses is still unknown, rough estimates by Jefferies International price the insured losses for the industry at $10 billion. Catastrophe modeling firm AIR Worldwide estimates damages could be between $15 billion and $35 billion.
Although it is too early to know the exact estimates, credit rating agencies Moody's and Standard & Poor's have said that U.S., Bermudian and European insurers and reinsurers balance sheets are likely take a large hit due exposure in Japan even though Japanese insurance companies will bear the brunt of the losses.
"The events in Japan -- even though it is too early to estimate the damage - could wipe out a year of earnings," said Standard & Poor's Financial Services analyst Dennis Sugrue.
"The first quarter is going to look pretty grim," said James Eck, vice president senior credit officer, at Moody's. "It will include losses from the Japan earthquake, the Australian floods and the New Zealand earthquake." Eck adds that share repurchases are also likely to not to return until after the 2011 Atlantic Hurricane Season.While, some insurers may get slammed in the first quarter, some analysts also see it as an opportunity for investors looking for longer term plays to pick up shares at a discount. Here are the 10 insurers and reinsurers listed on the NYSE and Nasdaq with exposure to the earthquake in Japan that analysts and investors are watching.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV