Matthew to hit to book value by 1%: JPM

Hurricane Matthew now looks set to hit (re)insurer book values by
only around 1 percent, according to JP Morgan analyst Sarah DeWitt.
In a note today, DeWitt said that losses amounting to roughly
$5bn would impact book value for the companies she covered by 1
percent, or less than a quarter's worth of earnings.
"Validus, XL Group, Everest Re and RenRe could have the
highest losses at 1-2 percent of book value for a $5bn storm,"
she said.
She added...