Tianjin disaster, the bill gets heavier for insurers

Since August 12, 2015, the bill for the disaster Tianjin (China) continues to grow. From an initial forecast of 1.5 billion, the amount of the claim to the insurers is estimated at 6 billion USD at the end of January 2016.

Damage to be borne by the transport class business represents nearly 50% of the losses, which would alone be, the largest ever-recorded maritime disaster.

The guarantees of financial insurance (ILS securities issued by insurance companies on the capital market) could be leveraged to a very high amount. Early estimates predict a figure of 3 billion in damages on behalf of ILS.

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