MAPFRE, a major non-life insurance group in Spain and Latin America, and MITSUI SUMITOMO INSURANCE (MSI), Japan’s principal non-Life insurance group in Asia, announced that they have “extended their framework partnership agreement to all the countries where the groups have …
The catastrophe bond market seems to have survived the Japanese earthquake, its biggest test since the Lehman Brothers bankruptcy, with investors still likely to consider the sector despite millions of dollars of losses. The cat bond sector – in which …
After careful calculation Lloyd’s has announced its estimated net claims before tax from the earthquakes this year in Japan and New Zealand and the January 2011 floods in Australia. The current net estimates were given as follows: US$ 1.95 billion …
Japan’s government agreed on Friday to set up a fund with taxpayer money to help Tokyo Electric Power compensate victims of the crisis at its tsunami-crippled nuclear plant and avoid financial collapse. The government will issue special-purpose bonds to help …
Japan’s trade minister said he was aiming for cabinet approval this week of a government-backed scheme to help Tokyo Electric Power pay for damages caused by the crisis at its Fukushima Daiichi nuclear plant. Earlier on Wednesday Tokyo Electric said …
Catastrophe modeling firm EQECAT has updated its market loss estimate of $12-$25 billion, issued on March 16, for the March 11 M9 Tohoku Earthquake. EQECAT said that, based on the latest information available, it is “updating its estimate to $22-$39 …
The head of Tokyo Electric Power on Tuesday asked Japan’s government to help shoulder the burden of compensating those displaced by the crisis at its Fukushima Daiichi nuclear plant, a bill that is expected to run to tens of billions …
Aon Benfield Securities, the investment banking subsidiary of Aon Corp., has released its latest Insurance Linked Securities (ILS) report, which examines the key trends in the ILS sector during the first quarter of the year. The report notes that “several …
Japan’s government will not put a cap on the liabilities faced by Tokyo Electric Power Co (Tepco) for damages stemming from its crippled Fukushima Daiichi nuclear power plant, Chief Cabinet Secretary Yukio Edano said on Monday. Under Japanese law, the …
Inside the chunks of slate and wallboard smashed and scattered by Japan’s tsunami hides a health risk that has been overshadowed by contamination from a leaking nuclear plant: the odorless and nearly invisible threat of asbestos. Activists have found the …
