Property & casualty insurers could see earnings fall by an average of 26% after Hurricane...

|By:, SA News Editor

Property & casualty insurers could see earnings fall by an average of 26% after Hurricane Sandy, Morgan Stanley says, cutting estimates by more than 40% each for Allstate (ALL), Chubb (CB) and Travelers (TRV); ACE and AIG also could take a hit. The firm's favorite P&C broker is Marsh & McLennan (MMC), which it says offers 15%-plus EPS growth and a ~3% dividend yield at an attractive valuation.