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Verisk estimates insured Kumamoto earthquake losses at JPY 220 billion to JPY 340 billion

The projected range, roughly USD 1.4 billion to USD 2.1 billion, outlines potential insurance-sector exposure from the earthquake in Japan.

Summary

Verisk estimated insured losses from the Kumamoto earthquake in Japan will range between JPY 220 billion and JPY 340 billion, equivalent to about USD 1.4 billion to USD 2.1 billion. The estimate points to a significant potential hit for insurers and reinsurers, offering an early gauge of the disaster's financial impact on the insurance market.

Terms & Concepts
  • insured losses: Claims expected to be covered by insurers.
  • reinsurers: Insurers that cover other insurers' risks.