Insurance Post

Chartis quake losses to reach $700m

Japan March 15 2011 - Vehicles and debris line a canal in the downtown area of Ofunato Japan following an earthquake and subsequent tsunami

Insurer Chartis has predicted losses of at least $700m (£431m) from the recent earthquake in Japan.

The figure is part of a total estimated AIG bill of $1bn for the catastrophes in Australia, New Zealand and Brazil.

Chartis predicts a potentially higher exposure once the full extent of the property

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