The March 11 Japan earthquake and tsunami are likely to have caused up to $34 billion in losses for the global insurance industry, catastrophe modeling company RMS said Tuesday. RMS said the magnitude 9.0 quake and subsequent flooding probably caused …
Tokyo Electric Power could face 2 trillion yen ($23.6 bln) in special losses in the current business year to March 2012 to compensate communities near its crippled nuclear plant, JP Morgan said in a research report obtained by Reuters. Shares …
More than 10,000 people dead, hundreds of thousands injured, nearly one million buildings destroyed, millions forced to evacuate and a fifth of Japan’s economy wiped out. That’s the scenario forecast if a huge magnitude 7.3 earthquake hits Japan’s capital of …
Transatlantic Holdings (TRH) announced that it expects to incur total net catastrophe costs (net of reinstatement premiums and reinsurance) in the first quarter of 2011 of approximately $355 million, net of tax, based on its preliminary assessment of the impact …
The first part of this article appeared on the IJ’s web site on April 5. PRICE PRESSURE Earthquakes may not be linked to each other, but they are linked to the financial markets, as anyone who has invested in insurers …
Michael Korn is a popular person these days, which is perhaps not too surprising considering what he does for a living and where he lives. Korn is an insurance broker in earthquake-prone San Francisco. “We’re pretty busy,” he said of …
XL Group plc announced that its preliminary net loss estimates for the March 11, 2011 earthquake and tsunami in Japan, pretax and net of reinsurance and reinstatement premiums, “range from approximately $190 million to $290 million, with approximately 70 percent …
Specialist insurer Amlin plc has released initial estimates of the impact of the 2011 New Zealand earthquake, the Japanese earthquake and the 2011 Queensland floods. The bulletin described the 2011 New Zealand earthquake as a “major catastrophe with market loss …
Japan’s government expects last month’s earthquake and tsunami to cost up to $300 billion in material damage, but the ultimate cost will be far higher. Tokyo Electric Power Co (TEPCO), operator of the crippled Fukushima nuclear power plant, could leave …
