Insight and Intelligence on the London & International Insurance Markets 22 Oct 2017
Tokio Marine pegs quake and hurricane losses at $580mn
- 13 October 2017
Tokio Marine has announced it expects its pre-tax net losses from hurricanes Harvey, Irma and Maria and the earthquakes in Mexico to total 65bn yen ($580mn).
Based on 1.86tn yen shareholders' equity as of 30 June, the losses equate to about a 3.5 percent erosion.
By event, Hurricane Irma was the most expensive, causing an estimated 32bn yen of net losses, while Hurricane Harvey was predicted to generate a 21bn yen hit.
Hurricane Maria, meanwhile, was predicted to cause 9bn...
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