BRIEF-S&P Says Baltimore Bridge Accident Could Cost More Than $3 Billion And Only Dent Insurers' Earnings

* S&P- BALTIMORE BRIDGE ACCIDENT COULD COST MORE THAN $3 BILLION AND ONLY DENT INSURERS' EARNINGS

* S&P ON BALTIMORE BRIDGE ACCIDENT: THE LOSSES WILL LIKELY BE SHARED AMONG THE PROTECTION AND INDEMNITY (P&I) CLUBS AND THE GLOBAL REINSURANCE SECTOR. * S&P-ANTICIPATE PROTECTION AND INDEMNITY CLUBS, AXA XL, GLOBAL REINSURANCE SECTOR WILL BE ABLE TO MANAGE LOSSES WITH NO IMPACT ON RATINGS AT THIS STAGE