The March 11, 2011 loss toll revised downwards

The estimates regarding the losses caused by the March 11, 2011 earthquake and tsunami have been revised downwards. Last May, the first estimates referred to 191.2 billion JPY (2.36 billion USD) compared to 122.9 billion JPY (1.58 billion USD) today, that is, a 35% decrease. This sum, nonetheless, remains well above the cost of the 1995 Kobe earthquake which reached 48.3 billion JPY (467 million USD). Among the thirteen hardest hit insurers, there is Nippon Life (33.5 billion JPY, that is, 430 million USD) and Dai-Ichi Life (16.3 billion JPY, that is, 209 million USD). Life insurance companies should be affected at a level ranging from 2.9 to 4.6 billion USD.

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