Some of the world’s leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 will cost them and more are expected do so over the next few weeks.
Risk modeling agency RMS has estimated the total insured loss at between $21 billion and $34 billion, while rivals EQECAT and AIR Worldwide are expecting losses of $12 billion-$25 billion and $20 billion-$30 billion, respectively.
The following are company loss estimates issued so far:
Munich Re – €1.5 billion ($2.1 billion)
Swiss Re – $1.2 billion
Chartis – $700 million
PartnerRe – $500 million
Hannover Re – € 250 million [$357 million]
Everest Re – $320 million
Axis Capital – $285 million
SCOR – €185 million [$264 million]
RenaissanceRe – $220 million
ACE – $200 million-$250 million
Amlin – £80-£150 million ($130-$244 million)
Transatlantic – $240 million
Aspen – $160 million
Validus – $139 million
Flagstone Re – $80 million-$130 million
Montpelier Re – $126 million
Endurance – $125 million
Hiscox – $100 million
Alterra – $60 million-$100 million
Platinum – $87 million
Argo – $60 million
Chaucer – £27.5 million [$45 million]
Novae – $25 million-$40 million
Omega – $23.6 million
Hardy – £9 to £12 million [$14.6 to $19.5 million]
MINIMUM TOTAL: – $7.57 billion
(Compiled by Myles Neligan and Ben Berkowitz; editing by Will Waterman, Steve Orlofsky and Andre Grenon)
Topics Catastrophe Carriers Natural Disasters Profit Loss Reinsurance Japan
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