Limited for Japanese Non-Life Insurers
Japanese life insurers can limit losses from the strongest earthquake in the country as a result of contingency reserves and ensuring the exclusion of a damaged nuclear power plants face, analysts said. MS & AD Insurance Group Holdings (8725) Inc., Tokio Marine Holdings Inc. (8766) and NKSJ Holdings Inc. (8630), the three largest life insurers may have 20 billion yen ($ 250 million) to 80 billion yen each in the commercial losses , according to Keefe Bruyette & Woods Inc. The three set aside about 88 percent of their maximum liability 593.2 billion yen, Fitch Ratings said and get impact soon.
for the latest information in there that’s had losses to insurers from an accident in Japan March 11 earthquake, the world’s fourth largest since 1900, may differ from such temblors February 22 New Zealand tremble, because they are protected under a government framework that coverage is limited. Commercial and industrial risks are passed on to the reinsurance market, according to Fitch. “The direct impact on the victim’s insurers will be limited,” said David Gold Thread, a Tokyo-based analyst for Keefe Bruyette.”Earthquake and tsunami are explicitly excluded from coverage under the Nuclear Energy Insurance Pool, so there is no coverage by insurers.”