Matthew losses could wipe out a quarter's earnings: JPM

JP Morgan analyst Sarah DeWitt has warned that insurance stocks
could lose a whole quarter's earnings if losses from Hurricane
Matthew fall between $10bn and $30bn.
In a note today, DeWitt said such losses would impact book value
for P&C (re)insurers by between 1 and 4 percent, taking out a
quarter's worth of earnings, but not constituting a capital
event.
Validus, XL Catlin and Everest Re could be among the worst
affected in such a scenario, DeWitt warned, saying the...