It was only a matter of time before several leading U.S. life insurers with business dealings in Japan felt reverberations from the devastating 9.0 earthquake on March 11, followed by a major tsunami and nuclear reactor leaks. While industry observers are still assessing the long-term financial impact of these events on Aflac, MetLife and The Hartford, disaster may have been averted on their balance sheets.
“Unless things get much, much more serious with the Fukushima Daiichi reactor, I wouldn’t expect any real hit to either Aflac or MetLife in any meaningful way,” says Steven Schwartz, an analyst covering the life insurance industry at Raymond James Associates Inc.
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