Japan's Nikkei share average
dipped on Tuesday but still hovered near the 9,000 level, with
non-life insurers underperforming after MS&AD Insurance Group
Holdings cut guidance on heavy losses on the flooding
in Thailand.
MS&AD Insurance dropped 2.8 percent after it forecast a net
loss of 145 billion yen ($1.9 billion) for the year to March,
compared with a previous estimate of a 6 billion yen net profit.
The non-life insurer said it now expects 236 billion yen in
payouts.
Peers NKSJ Holdings Inc shed 2.9 percent and Tokio
Holdings Inc eased 1 percent, while the insurance
subindex fell 1.3 percent to become the worst
sectoral performer.
(Reuters)
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