Swiss Re has released a preliminary estimate of its claims costs, net of retrocession and before tax, from the earthquake and the tsunami in Japan of $1.2 billion. The reinsurer cautioned that these “estimates are subject to a high degree …
American International Group Inc. said it would post an estimated $1 billion in pre-tax catastrophe losses in the first quarter, mostly from exposure to the March 11 earthquake in Japan. AIG said its exposure would be about $900 million after-tax. …
A bulletin from Marsh warns that “organizations need to prepare for the possibility of an extended disruption to global supply chains resulting from the earthquake and tsunami in Japan. Thousands of multinational companies that rely on Japanese manufacturers for goods …
Chaucer Holdings PLC, the specialist Lloyd’s insurance group, has announced that it has reduced its best estimate for claims arising from the 2010 New Zealand earthquake and Australian floods. Chaucer previously reported that its combined estimated total loss from these …
The Bermuda-based Everest Re Group announced that its preliminary loss estimate for exposures relating to the earthquake that occurred near Christchurch, New Zealand in February is “in the range of $140 million to $210 million,” pre-tax and net of reinstatement …
From Apple’s new iPad to Chevrolet pick-ups and many of the world’s airplane kitchens, concern is spreading down the global manufacturing supply chain about the impact from Japan’s earthquake last week. Plant shutdowns across Japan following the earthquake, tsunami and …
European insurers face no major threat from the turmoil ensuing from last week’s earthquake and tsunami in Japan, the European Union’s insurance watchdog said on Thursday. “From a European viewpoint, the impact is not severe, it is under control and …
Homeland Security Secretary Janet Napolitano says federal. emergency agencies constantly rehearse for a disaster like the one unfolding in Japan, and American first responders will learn from the experience of their Japanese counterparts. Napolitano says the United States was already …
Operators of a quake-crippled nuclear plant in Japan dumped water on overheating reactors on Thursday while the United States expressed growing alarm about leaking radiation and urged its citizens to stay well clear of the area. While Japanese officials were …
Insured losses from the magnitude 9.0 earthquake and tsunami that struck Japan last Friday are between $12 billion and $25 billion, according to catastrophe modeler EQECAT. In its latest update, the firm describes the losses as “significant.” The figures are …
