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Wednesday, 16 March 2011

Earthquake Losses May Be Limited for Japanese Non-Life Insurance Providers - Bloomberg

Earthquake Losses May Be Limited for Japanese Non-Life Insurance Providers - Bloomberg:

seem to have adopted best practice despite not being forced by regulators to do so, thats how it should be done!

"Japanese non-life insurers may face limited losses from the country’s strongest earthquake because of contingency reserves and an exclusion from insuring damaged nuclear plants, analysts said.

MS&AD Insurance Group Holdings (8725) Inc., Tokio Marine Holdings Inc. (8766) and NKSJ Holdings Inc. (8630), the three-biggest non-life insurers, may have 20 billion yen ($250 million) to 80 billion yen each in commercial losses, according to Keefe Bruyette & Woods Inc. The three have set aside about 88 percent of their 593.2 billion yen maximum liability, Fitch Ratings said."

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