Five Japanese life insurers say they may buy more unhedged foreign bonds, believing that the yen is likely to weaken and that the currency risks are low enough for them not to take on higher hedging costs, a stance that …
Standard and Poor’s threatened to cut Japan’s sovereign credit rating again, warning the huge cost of last month’s devastating earthquake will hurt already weak public finances unless bickering politicians can agree to raise taxes. It affirmed its long-term sovereign credit …
Japan will send nearly 25,000 soldiers backed by boats and aircraft into its disaster zone Monday on an intensive land-and-sea mission to recover the bodies of those killed by last month’s earthquake and tsunami, the military said. Agriculture officials also …
The first quarter of 2011 reminded the insurance industry of just how unpredictable natural catastrophes can be. Beazley plc, which is headquartered in Dublin, but whose main activities, are in the Lloyd’s market, and increasingly in the U.S., saw Q1 …
The Bermuda-based Catlin Group Limited announced that its initial estimate of the financial impact of the March 11 earthquake and tsunami that devastated areas of northeast Japan, are expected to be around $200 million, based on total insured losses of …
Some of the world’s leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 will cost them and more are expected do so over the next few weeks. Risk modeling agency …
Japan plans to set up a government-backed insurance fund to put money into Tokyo Electric Power and pay compensation stemming from the disaster at its Fukushima Daiichi nuclear plant, the Nikkei newspaper said. Aimed at saving Tokyo Electric from collapse, …
Small business owners and laborers forced to leave their homes and jobs because of radiation leaking from Japan’s tsunami-flooded nuclear plant rode a bus all the way to Tokyo on Wednesday to demand compensation from the plant’s operator. People are …
A 72-nation nuclear forum said on Thursday it backed a U.N.-led campaign to strengthen atomic safety in the light of Japan’s crisis and promised to carry out prompt steps as a result. Japan’s month-long struggle to stabilise the Fukushima nuclear …
Japan may cap Tokyo Electric Power’s liability to as little as $24 billion for damages stemming from its crippled nuclear plant, the Yomiuri newspaper reported, citing a draft plan being considered by the plant operator and the government. Shares of …
