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Japan, insured losses of Kyushu earthquake cost over 1 billion USD

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Magazine Issue: 
The GAIF, between lights and shadows [3]
Magazine date: 
May 2016

The earthquake that hit Japan on 14 and 15 April 2016 generated more than 3.5 billion USD of economic damage. The losses borne by insurers would exceed 1.3 billion USD. The insurance companies have already begun to indemnify the insured. Out of a total of 172 000 claims, 76 580 cases have already been settled.

According to the latest figures, three local insurers share a total of 19 billion JPY (174 million USD) in insured losses.

The largest part is attributable to MS & AD Insurance Group Holdings with 12 billion JPY (110 million USD). Tokio Marine and Sompo Japan Nipponkoa Holdings would be respectively committed to pay 5 billion JPY (46 million USD) and 2 billion JPY (18 million USD).

Tue, 31/05/2016 - 14:25

Source URL: https://www.atlas-mag.net/en/article/insured-losses-of-kyushu-earthquake-cost-over-1-billion-usd

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